Bill > HB1403

This bill aims to simplify condominium construction statutes by modifying warranties and legal requirements for condominiums, with a particular focus on increasing homeownership opportunities. Specifically, the bill revises implied warranty provisions for condominium units, creating different standards for condominiums created before and after the bill's effective date. For newer condominiums, the bill allows declarants and dealers to provide an express warranty of quality and insurance coverage instead of implied warranties, particularly for smaller buildings like accessory dwelling units, buildings with 12 or fewer units, and buildings with specific structural characteristics. The express warranty must meet specific requirements, including coverage periods of one year for workmanship and materials, two years for mechanical systems, and 10 years for structural defects. The bill also updates definitions related to multiunit residential buildings and modifies provisions about building enclosures and construction warranties. Additionally, the bill includes provisions that expire or take effect on January 1, 2028, suggesting a phased implementation approach to these changes in condominium law.