Kentucky HOA and Condo Laws, in Plain English

Governs planned communities in Kentucky, meaning homeowners associations other than condominiums, that were established after June 29, 2023. It covers formation through a recorded declaration, association and board governance, assessments and special assessments, financial records and owner access to them, meetings and voting, and the association's lien for unpaid assessments. The act does not require the association to furnish a resale certificate, payoff statement, or similar disclosure document to a buyer. The Act contains no resale certificate, disclosure, or statement of unpaid assessments provision; a planned community established before June 29, 2023 falls under it only if it files its declaration in (KRS 381.786), and otherwise issues under its governing documents alone.

Governs condominiums in Kentucky created after January 1, 2011, though several of its provisions also reach condominiums created earlier for events occurring after that date. It covers creation and recording of the condominium declaration, the powers and governance of the unit owners' association, assessments and liens, financial records and meetings, and the documents and disclosures a unit seller must give a purchaser before a sale.

• KRS 381.9203 (Documentation to Be Furnished by Seller of Unit)

  Before a contract or conveyance the seller of a unit furnishes the purchaser the declaration (without plats and plans), the bylaws, the rules, and a certificate current to its issue date and signed and dated by the association's manager or authorized agent, with eleven items: restraints on alienation, the monthly common expense assessment and any unpaid common, emergency, or special assessment, other fees, capital expenditures anticipated for the current and next two fiscal years, reserves and their designated portions, the most recent balance sheet and income and expense statement, the current budget, the date of the most current financial report under KRS 381.9197, unsatisfied judgments and pending suits (as defendant, or as a party where more than $10,000 is in dispute), insurance coverage or a certificate of insurance, and any leasehold term. The association furnishes the certificate within 10 days after the unit owner's written request; no fee is stated. The seller is not liable for the association's errors or delay, but the contract is voidable by the purchaser until the certificate is provided and for 5 days after, or until conveyance. The association may not deny the validity of any statement in it, and a missing certificate does not void a deed. Gratuitous, court-ordered, governmental, foreclosure, dealer, and freely cancellable dispositions are exempt (KRS 381.9201(2)). Applies to condominiums created before January 1, 2011 as well, for events after that date (KRS 381.9103(2)).

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• KRS 381.9193 (Lien for assessments and statement of unpaid assessments)

  Gives the association a lien for assessments and fines from the time they become due, perfected by the recorded declaration, prior to all but earlier-recorded encumbrances, a mortgage recorded before the delinquency, and tax liens, and extinguished unless enforced within five years. On a unit owner's written request the association must deliver, within 10 business days, a recordable statement of the unpaid assessments against the unit, binding on the association, the executive board, and every unit owner. Applies to condominiums created before January 1, 2011 as well, for events after that date (KRS 381.9103(2)).

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