Kentucky · CondominiumKentucky condo resale certificate: what the seller delivers and the buyer's right to void

Under the Kentucky Condominium Act, the seller of a unit must give the buyer or the buyer's agent, before the sales contract is signed or otherwise before conveyance, a copy of the declaration (other than plats and plans), the bylaws and the association's rules, and a certificate signed and dated by the association's manager or authorized agent stating: the effect of any right of first refusal or other restraint on resale; the monthly common expense assessment and any unpaid assessments due from the seller; other fees; capital expenditures planned for the current and, if known, next two fiscal years; reserves and any earmarked portions; the latest balance sheet and income statement; the current budget; the date of the latest financial report; unsatisfied judgments and pending suits; insurance; and any leasehold term. The association must furnish the certificate within ten days of the owner's written request, and the owner isn't liable for errors in it or for the association's delay – but the contract is voidable by the buyer until the certificate is provided and for five days afterward, or until conveyance, whichever comes first. The association can't deny any statement in the certificate, and a missing certificate doesn't void the deed (KRS 381.9203). No certificate is needed for gifts, court-ordered sales, government dispositions, foreclosures or deeds in lieu, certain sales to dealers who waive it, or purchases the buyer can cancel at any time (KRS 381.9201(2)). These sections apply to condominiums created after January 1, 2011, unless an older condominium's owners elect into the Act (KRS 381.9103).