Krec form 404 2026

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condominium sellers certificate Preview on Page 1

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  1. Click ‘Get Form’ to open the krec form 404 in the editor.
  2. Begin by filling in the condominium unit details, including the unit number, building name, and project name. Ensure accuracy as this information is crucial for identification.
  3. Indicate whether the Declaration contains a right of first refusal by checking the appropriate box. If applicable, reference the specific section of the Declaration.
  4. Enter the monthly common expense assessment amount and frequency. This helps clarify ongoing financial obligations related to the unit.
  5. Specify any unpaid assessments due from the seller to the Association, detailing amounts and reasons for these dues.
  6. Complete sections regarding anticipated capital expenditures and reserves. This provides insight into future financial planning for the Association.
  7. Attach required documents such as operating budgets and insurance summaries directly within our platform for easy submission.
  8. Finalize by providing contact information for the Association’s authorized agent and ensuring all fields are completed accurately before saving your work.

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This certificate includes essential information about the condominium association, such as its financial health, reserve funds, bylaws, rules and regulations, and pending legal actions. It also outlines any restrictions or special assessments that may affect the buyers ownership rights or financial obligations.
The law in question is Kentucky Revised Statutes 324.360, which requires sellers of single-family residential properties to make certain disclosures to potential buyers. The statute refers you to a form created by the Kentucky Real Estate Commission, titled SELLERS DISCLOSURE OF PROPERTY CONDITION.

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