The disclosure statement for a common interest community containing any building that was at any time before the creation of the common interest community wholly or partially occupied, for any purpose, by persons other than purchasers or persons who occupied with the consent of purchasers, shall contain, in addition to the information required by sections 515B.4-102, 515B.4-103 and 515B.4-104:
(1) a professional opinion prepared by a registered professional architect or engineer, licensed in this state, describing the current condition of all structural components and mechanical, electrical, and plumbing installations material to the use and enjoyment of the building, to the extent reasonably ascertainable without disturbing the improvements or dismantling the equipment, which will be in place or be operational at the time of conveyance of the first unit to a person other than a declarant. Subject to such reasonable accessibility, the opinion shall include, at a minimum, the following information concerning the following components and installations: (i) the composition and condition of all roofs, (ii) the type of building frame and its condition, (iii) the composition and condition of exterior walls, (iv) whether any building foundation, or any exterior walls or exposed load-bearing components, show significant spalling, buckling, shearing, or other obvious settling, damage, or load distress, (v) the type, composition, and condition of predominant window and door systems, (vi) the condition of any furnaces or boilers, (vii) the stated capacity of common electrical service, (viii) the type and condition of any common elevator system serving any building, and (ix) evidence of water damage within any building and any apparent source of the damage;
(2) a statement of the remaining useful life of each item reported on in paragraph (1) or a statement that no representations are made in that regard as to some or all of the items;
(3) a list of any outstanding notices of uncured violations of building code or other municipal regulations, together with the estimated cost of curing those violations;
(4) the approximate age of each building and the approximate date of any major alterations or additions thereto; and
(5) a statement as to which, if any, of the components or installations reported on in clause (1) has been replaced or will be replaced prior to the recording of the declaration and the approximate date when the replacement occurred or will occur.
1993 c 222 art 4 s 5; 2005 c 121 s 36; 2010 c 267 art 4 s 4
Structure Minnesota Statutes
Chapters 500 - 515B — Property And Property Interests
Chapter 515B — Minnesota Common Interest Ownership Act
Section 515B.1-101 — Short Title.
Section 515B.1-102 — Applicability.
Section 515B.1-103 — Definitions.
Section 515B.1-104 — Variation By Agreement.
Section 515B.1-105 — Separate Titles And Taxation.
Section 515B.1-106 — Applicability Of Local Requirements.
Section 515B.1-107 — Eminent Domain.
Section 515B.1-108 — This Chapter Prevails; Supplemental Law.
Section 515B.1-109 — Construction Against Implicit Repeal.
Section 515B.1-1105 — Vacation Of Abutting Publicly Dedicated Property.
Section 515B.1-112 — Unconscionable Agreement Or Term Of Contract.
Section 515B.1-113 — Obligation Of Good Faith.
Section 515B.1-114 — Remedies To Be Liberally Administered.
Section 515B.1-116 — Recording.
Section 515B.2-101 — Creation Of Common Interest Communities.
Section 515B.2-102 — Unit Boundaries.
Section 515B.2-103 — Construction And Validity Of Declaration And Bylaws.
Section 515B.2-104 — Description Of Units.
Section 515B.2-105 — Declaration Contents; All Common Interest Communities.
Section 515B.2-106 — Declaration Of Flexible Common Interest Communities.
Section 515B.2-107 — Declaration Of Leasehold Common Interest Communities.
Section 515B.2-108 — Allocation Of Interests.
Section 515B.2-109 — Common Elements And Limited Common Elements.
Section 515B.2-110 — Common Interest Community Plat (cic Plat); Cic Created Before August 1, 2010.
Section 515B.2-111 — Expansion Of Flexible Common Interest Community.
Section 515B.2-112 — Subdivision, Combination, Or Conversion Of Units.
Section 515B.2-113 — Alteration Of Units.
Section 515B.2-114 — Relocation Of Boundaries Between Adjoining Units.
Section 515B.2-115 — Minor Variations In Boundaries.
Section 515B.2-116 — Use For Sales Purposes.
Section 515B.2-117 — Declarant's Easement Rights.
Section 515B.2-118 — Amendment Of Declaration.
Section 515B.2-119 — Termination Of Common Interest Community.
Section 515B.2-120 — Rights Of Secured Parties.
Section 515B.2-121 — Master Associations.
Section 515B.2-122 — Merger Or Consolidation Of Common Interest Communities.
Section 515B.2-123 — Change Of Form Of Common Interest Community.
Section 515B.2-124 — Severance Of Common Interest Community.
Section 515B.2-125 — Addition Of Common Elements.
Section 515B.3-101 — Organization Of Unit Owners' Association.
Section 515B.3-102 — Powers Of Unit Owners' Association.
Section 515B.3-103 — Board Of Directors, Officers And Declarant Control.
Section 515B.3-105 — Termination Of Contracts, Leases; Cic Created Before August 1, 2010.
Section 515B.3-106 — Bylaws; Annual Report.
Section 515B.3-107 — Upkeep Of Common Interest Community.
Section 515B.3-108 — Meetings.
Section 515B.3-110 — Voting; Proxies.
Section 515B.3-111 — Tort And Contract Liability.
Section 515B.3-112 — Conveyance Of, Or Creation Of Security Interests In, Common Elements.
Section 515B.3-113 — Insurance.
Section 515B.3-114 — Reserves; Surplus Funds.
Section 515B.3-1141 — Replacement Reserves.
Section 515B.3-115 — Assessments For Common Expenses; Cic Created Before August 1, 2010.
Section 515B.3-1151 — Assessments For Common Expenses; Cic Created On Or After August 1, 2010.
Section 515B.3-116 — Lien For Assessments.
Section 515B.3-117 — Other Liens.
Section 515B.3-118 — Association Records.
Section 515B.3-119 — Association As Trustee.
Section 515B.3-120 — Declarant Duties; Turnover Of Records.
Section 515B.3-121 — Accounting Controls.
Section 515B.4-101 — Applicability; Delivery Of Disclosure Statement.
Section 515B.4-102 — Disclosure Statement; General Provisions; Cic Created Before August 1, 2010.
Section 515B.4-103 — Common Interest Communities Subject To Rights To Add Additional Real Estate.
Section 515B.4-104 — Time Shares.
Section 515B.4-105 — Common Interest Community With Building Once Occupied.
Section 515B.4-106 — Purchaser's Right To Cancel.
Section 515B.4-107 — Resale Of Units.
Section 515B.4-108 — Purchaser's Right To Cancel Resale.
Section 515B.4-109 — Escrow Deposits.
Section 515B.4-110 — Obligation To Release Liens.
Section 515B.4-111 — Conversion Property.
Section 515B.4-112 — Express Warranties.
Section 515B.4-113 — Implied Warranties.
Section 515B.4-114 — Exclusion Or Change Of Implied Warranties.
Section 515B.4-115 — Statute Of Limitations For Warranties; Cic Created Before August 1, 2010.
Section 515B.4-1152 — Statute Of Limitations For Warranties; Cic Created On Or After August 1, 2011.
Section 515B.4-116 — Rights Of Action; Attorney's Fees.
Section 515B.4-117 — Labeling Of Promotional Material.
Section 515B.4-118 — Declarant's Obligation To Complete And Restore.