Cal. Civ. Code §4525-4530
Transfer Disclosure — Davis-Stirling Act
California requires sellers in common interest developments to provide buyers with 15 disclosure items covering budgets, reserves, insurance, litigation, and governing documents.
Assessment
| Ref | Requirement |
|---|---|
| §4525(a)(7) | Special assessments approved but not yet billed, or assessments to be increased |
Compliance
| Ref | Requirement |
|---|---|
| §4525(a)(8) | Pending litigation involving the association |
Disclosure
| Ref | Requirement |
|---|---|
| §4525(a)(11) | Form of title under which the interest is sold (fee simple, leasehold, etc.) |
| §4525(a)(12) | Description of exclusive use common area or separate interests |
Enforcement
| Ref | Requirement |
|---|---|
| §4525(a)(13) | Outstanding code violations of which the association has been notified |
| §4525(a)(5) | Statement of assessment enforcement policy per §5310 |
Financial
| Ref | Requirement |
|---|---|
| §4525(a)(1) | Copy of the operating budget or summary |
| §4525(a)(3) | Most recent fiscal year-end financial statement (review/audit per §5305) |
| §4525(a)(6) | Assessment and fee information including delinquent assessments |
Governance
| Ref | Requirement |
|---|---|
| §4525(a)(10) | Minutes of board and member meetings for preceding 40 days |
| §4525(a)(14) | Restrictions on occupancy, leasing, or rental of separate interests |
| §4525(a)(15) | Age restrictions or senior housing compliance information |
| §4525(a)(9) | Governing documents (CC&Rs, bylaws, operating rules) |
Insurance
| Ref | Requirement |
|---|---|
| §4525(a)(4) | Insurance summary including policy types, limits, and deductibles |
Reserves
| Ref | Requirement |
|---|---|
| §4525(a)(2) | Amount of reserve funds and anticipated reserve expenses |
Legal references last verified March 9, 2026.
This content is educational and informational. It does not constitute legal advice.
Consult a licensed attorney in your state for legal guidance specific to your situation.