{"data":{"id":"us-ky/krs-381.9203","jurisdiction":"us-ky","citation":"KRS 381.9203","heading":"Documentation to be furnished by seller of unit -- Certificate.","body":"(1) Except as provided in KRS 381.9201(2), a seller of a unit shall furnish to a\npurchaser or purchaser's agent before execution of any contract for sale of a unit, or\notherwise before conveyance, a copy of the declaration, other than the plats and\nplans, and a copy of the bylaws, the rules or regulations of the association, and a\ncertificate, current to the date of issuance and signed and dated by the association's\nmanager or authorized agent, containing:\n(a) A statement disclosing the effect on the proposed d isposition of any right of\nfirst refusal or other restraint on the free alienability of the unit;\n(b) A statement setting forth the amount of the monthly common expense\nassessment and any unpaid common expense, emergency assessment, or\nspecial assessment currently due and payable from the selling unit owner;\n(c) A statement of any other fees payable by unit owners;\n(d) A statement of any capital expenditures anticipated by the association for the\ncurrent and, if known, next two (2) fiscal years;\n(e) A statement of the amount of any reserves for capital expenditures, if any, and\nof any portions of those reserves designated by the association for any\nspecified projects;\n(f) The most recent regularly prepared balance sheet and income and expense\nstatement, if any, of the association;\n(g) The current operating budget of the association;\n(h) The date of the most current financial report prepared for the association\npursuant to KRS 381.9197;\n(i) A statement of any unsatisfied judgments against the association, the status of\nany pending suits in which the association is a defendant, or any pending suits\nin which the association is a named party and the amount in dispute or contest\nis more than ten thousand dollars ($10,000);\n(j) A statement describing any insurance c overage maintained by the association\nor an attachment of a certificate of insurance issued to the association; and\n(k) If any portion of the condominium is situated upon a leasehold estate, a\nstatement of the remaining term of any leasehold estate affecti ng the\ncondominium and the provisions governing any extension or renewal thereof.\n(2) The association shall, within ten (10) days after receipt of a written request by a unit\nowner, furnish a certificate containing the information necessary to enable the u nit\nowner to comply with subsection (1) of this section. A unit owner or unit owner's\nagent providing a purchaser with the certificate issued pursuant to this subsection\nshall not be liable to the purchaser for any erroneous information provided by the\nassociation and included in the certificate.\n(3) A unit owner or unit owner's agent shall not be liable to a purchaser for the failure\nor delay of the association to provide the certificate in a timely manner, but the sales\ncontract is voidable by the purchas er until the certificate has been provided and for\nfive (5) days thereafter or until conveyance, whichever first occurs.\n(4) An association may not deny the validity of any statement in the certificate.\n(5) Failure to provide a certificate does not void a deed to a purchaser.","path":["KRS Chapter 381"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40017","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:12Z","sha256":"23f2ed6ef0234f4729892e4e581af1eaa6fcaa140ea76a1612ae2acde544b7ad","source_id":"us-ky","stale":false,"prev":"us-ky/krs-381.9201","next":"us-ky/krs-381.9205"},"notice":"GroundRules: Original legal text. Not legal advice."}