Bill > HB449

This bill increases the maximum amount of a condominium's property insurance deductible for which an individual unit owner is financially responsible from $10,000 to $25,000 when damage or destruction originates from their specific unit. Currently, if a unit owner causes damage to the condominium, they can be held responsible for up to $10,000 of the insurance deductible, but this bill raises that threshold to $25,000. The bill also requires the council of unit owners to annually inform unit owners in writing about their potential financial responsibility for the insurance deductible. Additionally, the legislation mandates that when a unit is resold, the seller must provide the buyer with written notice about the unit owner's responsibility for the property insurance deductible, including specific details about potential costs if damage originates from the unit. The changes will take effect on October 1, 2025, and apply to residential condominiums, with an exception for condominiums intended entirely for nonresidential use. This bill aims to clarify and update financial responsibilities in condominium property insurance scenarios.

Justice, Transportation and Infrastructure

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0449?ys=2025RS