reglab/housing_qa huggingface dataset:
WA Rev Code § 64.90.525 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.525 - Budgets—Assessments—Special assessments.

RCW 64.90.525 Budgets—Assessments—Special assessments.(1)(a) Within thirty days after adoption of any proposed budget for the common interest community, the board must provide a copy of the budget to all the unit owners and set a date for a meeting of the unit owners to consider ratification of the budget not less than fourteen nor more than fifty days after providing the budget. Unless at that meeting the unit owners of units to which a majority of the votes in the association are allocated or any larger percentage specified in the declaration reject the budget, the budget and the assessments against the units included in the budget are ratified, whether or not a quorum is present.(b) If the proposed budget is rejected or the required notice is not given, the periodic budget last ratified by the unit owners continues until the unit owners ratify a subsequent budget proposed by the board.(2) The budget must include:(a) The projected income to the association by category;(b) The projected common expenses and those specially allocated expenses that are subject to being budgeted, both by category;(c) The amount of the assessments per unit and the date the assessments are due;(d) The current amount of regular assessments budgeted for contribution to the reserve account;(e) A statement of whether the association has a reserve study that meets the requirements of RCW 64.90.550 and, if so, the extent to which the budget meets or deviates from the recommendations of that reserve study; and(f) The current deficiency or surplus in reserve funding expressed on a per unit basis.(3) The board, at any time, may propose a special assessment. The assessment is effective only if the board follows the procedures for ratification of a budget described in subsection (1) of this section and the unit owners do not reject the proposed assessment. The board may provide that the special assessment may be due and payable in installments over any period it determines and may provide a discount for early payment.[ 2018 c 277 § 326.]
WA Rev Code § 64.90.530 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.530 - Financial statements—Association funds.

RCW 64.90.530 Financial statements—Association funds.(1) The association must prepare, or cause to be prepared, at least annually, a financial statement of the association in accordance with accrual based accounting practices.(2) The financial statements of associations with annual assessments of fifty thousand dollars or more must be audited at least annually by a certified public accountant. In the case of an association with annual assessments of less than fifty thousand dollars, an annual audit is also required but may be waived annually by unit owners other than the declarant of units to which a majority of the votes in the association are allocated, excluding the votes allocated to units owned by the declarant.(3) The association must keep all funds of the association in the name of the association with a qualified financial institution. The funds must not be commingled with the funds of any other association or with the funds of any managing agent of the association or any other person, or be kept in any trust account or custodial account in the name of any trustee or custodian.(4) A managing agent who accepts or receives funds belonging to the association must promptly deposit all such funds into an account maintained by the association as provided in subsection (3) of this section or RCW 64.90.535, as appropriate.[ 2018 c 277 § 327.]
WA Rev Code § 64.90.535 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.535 - Reserve accounts.

RCW 64.90.535 Reserve accounts.An association required to obtain a reserve study pursuant to RCW 64.90.545 must establish one or more accounts for the deposit of funds, if any, for the replacement costs of reserve components. Any reserve account must be an income-earning account maintained under the direct control of the board, and the board is responsible for administering the reserve account.[ 2018 c 277 § 328.]
WA Rev Code § 64.90.540 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.540 - Reserve account—Withdrawals.

RCW 64.90.540 Reserve account—Withdrawals.(1) The board may withdraw funds from the association's reserve account to pay for unforeseen or unbudgeted costs that are unrelated to replacement costs of the reserve components. Any such withdrawal must be recorded in the minute books of the association. The board must give notice of any such withdrawal to each unit owner and adopt a repayment schedule not to exceed twenty-four months unless the board determines that repayment within twenty-four months would impose an unreasonable burden on the unit owners. The board must provide to unit owners along with the annual budget adopted in accordance with RCW 64.90.525 (a) notice of any such withdrawal, (b) a statement of the current deficiency in reserve funding expressed on a per unit basis, and (c) the repayment plan.(2) The board may withdraw funds from the reserve account without satisfying the notification of repayment requirements under this section to pay for replacement costs of reserve components not included in the reserve study.[ 2018 c 277 § 329.]
WA Rev Code § 64.90.545 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.545 - Reserve study.

RCW 64.90.545 Reserve study.(1) Unless exempt under subsection (2) of this section, an association must prepare and update a reserve study in accordance with this chapter. An initial reserve study must be prepared by a reserve study professional and based upon either a reserve study professional's visual site inspection of completed improvements or a review of plans and specifications of or for unbuilt improvements, or both when construction of some but not all of the improvements is complete. An updated reserve study must be prepared annually. An updated reserve study must be prepared at least every third year by a reserve study professional and based upon a visual site inspection conducted by the reserve study professional.(2) Unless the governing documents require otherwise, subsection (1) of this section does not apply (a) to common interest communities containing units that are restricted in the declaration to nonresidential use, (b) to common interest communities that have only nominal reserve costs, or (c) when the cost of the reserve study or update exceeds ten percent of the association's annual budget.(3) The governing documents may impose greater requirements on the board.[ 2018 c 277 § 330.]
WA Rev Code § 64.90.555 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.555 - Reserve study—Demand—Enforcement.

RCW 64.90.555 Reserve study—Demand—Enforcement.(1) When more than three years have passed since the date of the last reserve study prepared by a reserve study professional, unit owners of units to which at least twenty percent of the votes in the association are allocated may demand in a record delivered to the board that the cost of a reserve study be included in the next annual budget and that the study be prepared by the end of that budget year. The demand must refer to this section. The board must, upon receipt of the demand, include the cost of a reserve study in the next budget and, if that budget is not rejected by the unit owners pursuant to RCW 64.90.525, arrange for the preparation of a reserve study.(2) One or more unit owners may bring an action to enforce the requirements of this section and RCW 64.90.545 and 64.90.550. In such an action, a court may order specific performance and may award reasonable attorneys' fees and costs to the prevailing party.(3) A unit owner's duty to pay assessments is not excused because of the association's failure to comply with this section and RCW 64.90.545 and 64.90.550. A budget ratified by the unit owners pursuant to RCW 64.90.525 is not invalidated because of the association's failure to comply with this section and RCW 64.90.545 and 64.90.550.[ 2018 c 277 § 332.]
WA Rev Code § 64.90.560 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.560 - Reserve account—Reserve study—Reserve disclosure—Liability.

RCW 64.90.560 Reserve account—Reserve study—Reserve disclosure—Liability.Except for an award for attorneys' fees and costs under RCW 64.90.555(2), monetary damages or other liability may not be awarded against or imposed upon the association or its officers or board members, or upon any person who may have provided advice or assistance to the association or its officers or board members, for failure to: Establish or replenish a reserve account, have a current reserve study prepared or updated in accordance with the requirements of this chapter, or make reserve disclosures in accordance with this chapter.[ 2018 c 277 § 333.]
WA Rev Code § 64.90.600 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.600 - Applicability—Waiver.

RCW 64.90.600 Applicability—Waiver.(1) RCW 64.90.605 through 64.90.695 apply to all units subject to this chapter, except as provided in subsections (2) and (3) of this section.(2) RCW 64.90.605 through 64.90.695 do not apply in the case of:(a) A conveyance by gift, devise, or descent;(b) A conveyance pursuant to court order;(c) A conveyance by a government or governmental agency;(d) A conveyance by foreclosure;(e) A conveyance of all of the units in a common interest community in a single transaction;(f) A conveyance to other than a purchaser;(g) An agreement to convey that may be canceled at any time and for any reason by the purchaser without penalty;(h) A conveyance of a unit restricted to nonresidential uses, except and to the extent otherwise agreed to in writing by the seller and purchaser of that unit.(3) RCW 64.90.665, 64.90.670, 64.90.675, 64.90.680, 64.90.690, and 64.90.695 apply only to condominiums created under this chapter, and do not apply to other common interest communities.[ 2018 c 277 § 401.]
WA Rev Code § 64.90.615 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.615 - Public offering statement—Common interest communities subject to development rights.

RCW 64.90.615 Public offering statement—Common interest communities subject to development rights.If the declaration provides that a common interest community is subject to any development rights or if the declarant reserves any special declarant rights, the public offering statement must include, in addition to the information required under RCW 64.90.610:(1) A statement of all development rights and special declarant rights reserved to the declarant, together with the dates or other circumstances under which such rights must terminate; and(2) A statement describing how the allocated interests of a unit may be changed by the exercise of any development right.[ 2018 c 277 § 404.]
WA Rev Code § 64.90.620 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.620 - Public offering statement—Conversion buildings.

RCW 64.90.620 Public offering statement—Conversion buildings.(1) A public offering statement for a unit in a conversion building must contain, in addition to the information required under RCW 64.90.610, 64.90.615, and 64.90.655(6)(a):(a) Either a copy of a report prepared by an independent, licensed architect or engineer or a statement by the declarant based on such report that describes, to the extent reasonably ascertainable, the present condition of all structural components and mechanical and electrical installations material to the use and enjoyment of the common interest community;(b) A statement by the declarant or dealer of the expected useful life of each item reported on in (a) of this subsection or a statement that no representations are made in that regard;(c) A copy of any inspection and repair report for the conversion building required under RCW 64.55.090, if applicable;(d) A list of any outstanding notices of uncured violations of building code or other municipal ordinances and regulations, together with the estimated cost of curing those violations and a statement that such list is not a representation that the conversion building is in compliance with the current building code or other municipal ordinances and regulations;(e) A statement of the improvements to the conversion building made or contracted for by the declarant or dealer, or affiliate of either, offering the unit for sale; and(f) The current deficiency or surplus in reserve funding expressed on a per unit basis.(2) The obligation to provide the information required in subsection (1) of this section as to any particular conversion building ceases on the earlier of (a) the date when all units in the building have been conveyed to persons other than the declarant or a dealer, or any affiliate of the declarant or dealer, or (b) the date set forth in RCW 64.90.605(5).[ 2018 c 277 § 405.]
WA Rev Code § 64.90.625 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.625 - Public offering statement—Disclosure document.

RCW 64.90.625 Public offering statement—Disclosure document.If a unit is offered for sale for which the delivery of a public offering statement or other disclosure document is required under the laws of any state or the United States, a single disclosure document conforming to the requirements of RCW 64.90.610, 64.90.615, and 64.90.620 and conforming to any other requirement imposed under such laws may be prepared and delivered in lieu of providing two or more disclosure documents.[ 2018 c 277 § 406.]
WA Rev Code § 64.90.630 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.630 - Public offering statement—Contract of sale—Conveyance restriction.

RCW 64.90.630 Public offering statement—Contract of sale—Conveyance restriction.In the case of a sale of a unit in which delivery of a public offering statement is required, a contract of sale may be executed unless otherwise prohibited by applicable law, but interest in that unit may not be conveyed until:(1) The declaration and map that create the common interest community in which that unit is located are recorded pursuant to RCW 64.90.200(1) and 64.90.245(3); and(2) In the case of a unit in a building containing that unit or a building comprising that unit, the unit is substantially completed and available for occupancy, and all structural components and mechanical systems of the building containing or comprising that unit are substantially completed, but a declarant or dealer and a purchaser may otherwise specifically agree in writing as to the extent to which the unit will not be substantially completed and available and to which any structural components and mechanical systems will not be substantially completed at the time of conveyance.[ 2018 c 277 § 407.]
WA Rev Code § 64.90.635 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.635 - Purchaser's right to cancel.

RCW 64.90.635 Purchaser's right to cancel.(1) The purchaser may cancel a contract for the purchase of the unit within seven days after first receiving the public offering statement. If the public offering statement is first provided to a purchaser more than seven days before execution of a contract for the purchase of a unit, the purchaser does not have the right under this section to cancel the executed contract. If the public offering statement is first provided to a purchaser seven days or less before the purchaser signs a contract for the purchase of a unit, the purchaser, before conveyance of the unit to the purchaser, may cancel the contract by delivering, no later than the seventh day after first receiving the public offering statement, a notice of cancellation, delivered pursuant to subsection (3) of this section. If the public offering statement is first provided to a purchaser less than seven days before the closing date for the conveyance of that unit, the purchaser may, before conveyance of the unit to the purchaser, extend the closing date to a date not more than seven days after the purchaser first received the public offering statement.(2) A purchaser does not have the right under this section to cancel a contract upon receipt of an amendment to a public offering statement. This subsection must not be construed to eliminate any right that is otherwise available to the purchaser under generally applicable contract law to rescind the contract due to the disclosure of the information in the amendment.(3) If a purchaser elects to cancel a contract under subsection (1) of this section, the purchaser may do so by hand-delivering notice of cancellation, or by mailing notice of cancellation by prepaid United States mail, to the declarant at the address set forth in the public offering statement or at the address of the declarant's registered agent for service of process. The date of such notice is the date of receipt of delivery, if hand-delivered, or the date of deposit in the United States mail, if mailed. Cancellation is without penalty, and all payments made to the seller by the purchaser before cancellation must be refunded promptly. There is no liability for failure to deliver any amendment unless such failure would have entitled the purchaser under generally applicable legal principles to cancel the contract for the purchase of the unit had the undisclosed information been evident to the purchaser before the closing of the purchase.(4) The language of the notice required under RCW 64.90.610(2)(a) must not be construed to modify the rights set forth in this section.[ 2018 c 277 § 408.]
WA Rev Code § 64.90.645 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.645 - Deposits—Escrow.

RCW 64.90.645 Deposits—Escrow.(1) Except as provided in subsection (2) of this section, any deposit made in connection with the right to purchase a unit from a person required to deliver a public offering statement pursuant to RCW 64.90.605(3) must be placed in escrow and held in this state in an escrow or trust account designated solely for that purpose by a licensed title insurance company or agent, a licensed attorney, a real estate broker or independent bonded escrow company, or an institution whose accounts are insured by a governmental agency or instrumentality until: (a) Delivered to the declarant at closing, (b) delivered to the declarant because of the purchaser's default under a contract to purchase the unit, (c) refunded to the purchaser, or (d) delivered to a court in connection with the filing of an interpleader action.(2)(a) If a purchase agreement for the sale of a unit provides that deposit funds may be used for construction costs and the declarant obtains and maintains a surety bond as required by this section, the declarant may withdraw escrow funds when construction of improvements has begun. The funds may be used only for actual building and construction costs of the project in which the unit is located.(b) The bond must be issued by a surety insurer licensed in this state in favor of the purchaser in an amount adequate to cover the amount of the deposit to be withdrawn. The declarant may not withdraw more than the face amount of the bond. The bond must be payable to the purchaser if the purchaser obtains a final judgment against the declarant requiring the declarant to return the deposit pursuant to the purchase agreement. The bond may be either in the form of an individual bond for each deposit accepted by the declarant or in the form of a blanket bond assuring the return of all deposits received by the declarant.(c) The party holding escrow funds who releases all or any portion of the funds to the declarant has no obligation to monitor the progress of construction or the expenditure of the funds by the declarant and is not liable to any purchaser for the release of funds pursuant to this section.(3) A deposit under this section may not exceed five percent of the purchase price.[ 2021 c 260 § 2; 2018 c 277 § 410.]
WA Rev Code § 64.90.650 (2021)
2021 Revised Code of Washington|Title 64 - Real Property and Conveyances|Chapter 64.90 - Washington Uniform Common Interest Ownership Act.|64.90.650 - Liens—Release.

RCW 64.90.650 Liens—Release.(1) In the case of a sale of a unit when delivery of a public offering statement is required pursuant to RCW 64.90.605(3) and subject to subsection (2) of this section, a seller before conveying a unit:(a) Must record or furnish to the purchaser releases of all liens that encumber:(i) In a condominium, that unit and its common element interest; and(ii) In a cooperative, plat community, or miscellaneous community, that unit and any limited common elements assigned to that unit; or(b) Must provide the purchaser of that unit with title insurance from a licensed title insurance company against any lien not released pursuant to (a) of this subsection.(2) Subsection (1) of this section does not apply to liens that encumber:(a) Real estate that a declarant has the right to withdraw from the common interest community;(b) In a condominium, the unit and its common element interest being purchased, but no other unit, if the purchaser expressly agrees in writing to take subject to or assume such lien;(c) In a cooperative, plat community, or miscellaneous community, the unit and any limited common element allocated to the unit being purchased, but no other unit, if the purchaser expressly agrees in writing to take subject to or assume such lien.(3) Before conveying real property to the association, the declarant must have that real property released from:(a) All liens the foreclosure of which would deprive unit owners of any right of access to or easement of support of their units; and(b) All other liens on that real property unless the public offering statement describes certain real property that may be conveyed subject to liens in specified amounts.(4) In the case of a cooperative, the provisions of this section do not apply to liens securing indebtedness that represent a common expense liability for which the purchaser expressly agrees in writing to be responsible.[ 2019 c 238 § 213; 2018 c 277 § 411.]