Bill > S815

This bill amends existing law to clarify and establish time limits for condominium owners to file lawsuits related to construction defects. Specifically, it expands the definition of what constitutes a "condominium" for the purposes of these construction defect claims, ensuring that claims can be brought for issues within the common areas of a condominium at the time the initial property documents are recorded. The bill introduces a new timeframe for these actions, generally requiring them to be filed within three years after the problem is discovered or should have been discovered. However, it also includes provisions that extend this deadline if the original developer, referred to as the "Declarant," still controls the condominium's governing body. In such cases, the lawsuit must be filed within six years of specific events, such as the developer relinquishing control, the improvement being opened for use, or substantial completion of the project and owner occupancy, whichever is later. This new six-year limit is further defined by a "Declarant Control Termination Date," which is the later of when a majority of the condominium's board is made up of non-developer owners or when the developer owns less than 25% of the units. The bill also specifies that these new rules will apply to all condominium documents, regardless of when they were created.