Common interest developments: disclosures to prospective purchasers: exterior elevated elements inspection.

Senator Grayson's legislation expands disclosure requirements for common interest development property sales by requiring owners to provide prospective buyers with inspection reports of exterior elevated elements. The bill modifies the Civil Code to add these reports to the list of mandatory disclosures that sellers must furnish before transferring title or executing a sales contract.

The measure updates the standardized billing disclosure form used by homeowners associations to reflect this new documentation requirement. Under existing law, associations must inspect exterior elevated elements every nine years and maintain records of these inspections. The bill ensures these inspection results are shared with potential buyers as part of the standard disclosure package.

This change operates within the existing framework of the Davis-Stirling Common Interest Development Act, which governs association operations and disclosure obligations. The bill maintains current inspection schedules and enforcement mechanisms while adding the inspection report requirement to the comprehensive set of documents that inform prospective purchasers about a property's condition and associated obligations.