Disclosures relating to property covered by governing documents of homeowners association

Sec. 8.5. (a) This section applies to all transfers of title to property after June 30, 2015. (b) The definitions in IC 32-25.5-2 apply in this section. (c) As used in this section, "property" refers to real property covered by the governing documents of a homeowners association. (d) As used in this section, "purchaser" refers to a person who purchases property. (e) The following must be provided by the seller to a purchaser not later than ten (10) days before the sale of the property closes: (1) A disclosure that the property is in a community governed by a homeowners association. (2) A copy of the recorded governing documents. (3) A statement indicating whether there are assessments and the amount of any assessments. (4) The following information about a board member, homeowners association agent, or other person who has a contract with the homeowners association to provide any management services for the homeowners association: (A) The name. (B) The business or home address. (f) In the case of a resale or refinance of property subject to this section, a homeowners association or agent of a homeowners association providing a statement of unpaid assessments or other charges of the homeowners association relating to the property may not charge more than fifty dollars ($50) for the statement. (g) The failure to provide any of the documents listed in subsection (e) does not limit or prevent enforcement of the governing documents by the homeowners association.