HOA Package Contents as Required by California Law

HOA Disclosure Package

Below is a list of the HOA Package Contents as Required by California Law when a condominium is to be sold to a new owner. The buyer is required by law to have access to all of these documents.  In particular, your buyer may be looking at the “Assessment Reserve Funding Disclosure” (found within the pro forma operating budget) which gives an indication of how well funded (or not) the repair reserve for the association is.  Likewise, a buyer’s lender may be looking for the required amount of fidelity bond coverage; if your association has more than 20 units, you’d do well to make sure your association has the appropriate coverage.

Governing Documents
01 Articles of Incorporation §1368(a)(1)
02 Statement from HOA if unincorporated §1368(a)(1)
03 Bylaws, Restated & Amended or Draft §1368(a)(1)
04 CC&Rs, Restated & Amended or Draft §1368(a)(1)
05 Condominium Plan §1368(a)(1)
06 Rules & Regulations, Restated & Amended or Draft §1368(a)(1)
07 Age Restrictions §1368(a)(2)
Financial Condition of the Common Interest Development
08 Pro Forma Budget (Full budget, not the Summary) §1368(a)(3)1365(a)
09 Annual Financial Review §1368(a)(3)1365(b)
10 Year-To-Date Balance Sheet
11 Delinquency Policy §1368(a)(3)1365(d)
12 Insurance Summary §1368(a)(3)1365(e)(1)
13 Changes in Insurance Coverage §1368(a)(3)1365(e)(2)
Status of Assessments and Violations
14 Statement of Account §1368(a)(4)
15 Statement of changes in Regular, Special Assessments, Fees §1368(a)(8)
16 Statement of Violations §1368(a)(5)
Construction Defects
17 Construction Defects (list of; Preresolution) §1368(a)(6)
18 Construction Defects Resolution Documentation §1368(a)(7)
19 Notice of Construction Defect Litigation §1368.4(a)
20 Minutes of all Board of Director meetings for the preceding 12 months 8311, 8333
21 Newsletter, notices and memoranda to owners for the preceding 12 months 8311, 8333

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