Missouri · Uniform Condominium ActMissouri condo resale certificate: what the seller must give the buyer

For condominium units under Missouri's Uniform Condominium Act, RSMo 448.4-109 requires the unit owner to give the buyer a resale certificate before the sale contract is signed, or otherwise before conveyance. It contains a copy of the declaration (other than plats and plans), the bylaws and the association's rules, and must disclose: the effect of any right of first refusal or other restraint on transfer; the monthly common expense assessment and any unpaid assessment the seller currently owes; other fees owners pay; capital expenditures the association expects for the current and next two fiscal years; reserves, including amounts earmarked for specific projects; the latest balance sheet and income and expense statement, if any; the current operating budget; unsatisfied judgments and pending suits against the association; insurance coverage for owners; whether the board knows of alterations to the unit or its limited common elements that violate the declaration; and the remaining term of any leasehold affecting the condominium. The association must give the owner the information within ten days of a request, and the owner isn't liable for the association's errors. The buyer isn't liable for unpaid assessments or fees greater than the certificate shows, and the contract is voidable by the buyer until the certificate is delivered and for five days after, or until conveyance, whichever comes first. No certificate is needed for gifts, court-ordered sales, sales by a government, foreclosures or deeds in lieu, sales to a dealer who will resell or rent the unit, or sales the buyer can cancel at any time without penalty (448.4-101(2)). Separately, the association has a lien for assessments, and on written request from an owner or mortgage holder it must give a recordable statement of unpaid assessments within ten business days, which binds the association (448.3-116).