What is the Davis Stirling Act California?
The Davis–Stirling Common Interest Development Act is the popular name of the portion of the California Civil Code beginning with section 4000, which governs condominium, cooperative, and planned unit development communities in California. It was authored by Assemblyman Lawrence W.
What is a form 4528?
Document Disclosure Summary Form. The seller may, in accordance with Section 4530 of the Civil Code, provide to the prospective purchaser, at no cost, current copies of any documents specified by Section 4525 that are in the possession of the seller.
What is an HOA disclosure?
Disclosure fees This disclosure statement includes a variety of documents that an HOA must deliver to a buyer when a home is sold, such as bylaw information, financial statements, operating budget and contact information for the HOA.
Who does Davis Stirling Act apply?
The Davis-Stirling Act applies to all forms of residential common interest developments in California, including those in existence prior to the Act. Corporations Code. The Davis-Stirling Act applies to all common interest developments in California.
Can I sue my HOA for negligence?
A homeowner has the right to sue the HOA for breach of its fiduciary duties. To fulfill these duties, the HOA must exercise ordinary care, in a reasonable and good faith manner, in the performance of its duties. A homeowner might also sue an individual board member for breach of fiduciary duty.
What happens when boards violate the Davis Stirling Act?
Sometimes boards make decisions in closed meetings in violation of California’s Open Meeting Act (Civ. Code §§4900-4955). Members can go into court for injunctive relief and civil penalties up to $500 for each violation.
What is a common interest development in California?
A common interest development (“CID”) is a real property development where property owners share a common set of financial obligations, property and easement rights established in a set of recorded restrictions (commonly referred to as “CC&Rs”).