WUCIOA - Get ready for new condo laws
It looks like the Washington Uniform Common Interest Ownership Act (WUCIOA) will become law, and will be the biggest change to state laws governing condos and HOAs since 1990.
Chapter 64.90 RCW will apply to all HOAs and condos created after July 1, 2018 and some sections will apply to all regardless of when they were created. HOAs may elect to amend their governing documents to be subject to WUCIOA which would require a formal recording of a declaration amendment.
The law now defines a common interest community as “real estate described in a declaration with respect to which a person, by virtue of the person's ownership of a unit, is obligated to pay for a share of real estate taxes, insurance premiums, maintenance, or improvement of, or services or other expenses related to, common elements, other units, or other real estate described in the declaration.” (64.90.010.10) More specifically, a condominium is defined as “a common interest community in which portions of the real estate are designated for separate ownership and the remainder of the real estate is designated for common ownership solely by the owners of those portions. A common interest community is not a condominium unless the undivided interests in the common elements are vested in the unit owners.” (RCW 64.90.010.11)
There are some important changes to condo laws contained in WUCIOA, including the process by which all condos and HOAs approve budgets, assessments and special assessments. For new construction, the public offering statement has some major changes in required disclosure as well as the ability to require binding arbitration for potential future disputes.