Alaska · AS 34.08.590Alaska HOA and condo resale certificate: what the seller furnishes and the buyer's 5-day right

When a unit in an Alaska common interest community is resold, the unit owner must furnish the buyer – before a contract for sale is signed, or before conveyance – the declaration, bylaws, rules and a certificate disclosing any right of first refusal, the monthly assessment and anything unpaid, other fees, capital expenditures over $3,000 approved for this and the next two fiscal years, reserves, the latest balance sheet and income statement, the operating budget, judgments and lawsuits, insurance, known alterations violating the declaration, known code violations, any leasehold term and restrictions on what an owner may receive on sale or loss (AS 34.08.590(a)). The association must furnish it within 10 days after the owner's written request and payment of a reasonable fee, and the owner isn't liable for the association's errors (AS 34.08.590(b)). The buyer isn't liable for unpaid assessments or fees greater than the certificate shows; the contract is voidable by the buyer until the certificate has been provided and for five days after, or until conveyance, whichever comes first (AS 34.08.590(c)). In a planned community created before 1986 with no functioning association, the owner may instead give a recordable affidavit with the recorded documents (AS 34.08.590(d)).