Minnesota · Minn. Stat. §515B.4-107Minnesota resale disclosure certificate: what the seller furnishes and when

When a unit in a Minnesota common interest community is resold by an owner who isn't the declarant, the owner must furnish the buyer – before the purchase agreement is signed, or otherwise before conveyance – copies of the declaration (other than the plat), articles, bylaws, rules and amendments, the master association's documents if there is one, and a resale disclosure certificate from the association dated not more than 90 days before the purchase agreement or conveyance, whichever is earlier (Minn. Stat. §515B.4-107(a)). The certificate follows the statutory form: rights of first refusal, annual and special assessments and anything unpaid, other fees, approved extraordinary expenditures for this and the next two fiscal years, components the association must replace and its reserves, the latest balance sheet, income statement and budget, judgments and lawsuits, insurance and which interior items it covers, known violations, leasehold terms and other material matters, with a receipt for the buyer to sign (§515B.4-107(b)). The association must furnish it within ten days after the owner's request and may charge a reasonable fee; the owner isn't liable for the association's errors or delays (§515B.4-107(d)–(e)). The buyer isn't liable for unpaid assessments the certificate doesn't show, or for assessments above those stated for that year except increases later approved under the declaration or bylaws (§515B.4-107(e)).