Rhode IslandH55852025 Regular SessionHouseWALLET

AN ACT RELATING TO PROPERTY -- CONDOMINIUM LAW .

Sponsored By: Brandon T. Voas (Democratic)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 1 costs, 1 mixed.

Condo owners must cover insurance gaps

When the condo association insures units, owners must buy certain gap coverage when reasonably available. This covers owner improvements made after the first sale by the developer that the association does not insure. Owners must also insure covered losses unpaid because of the association's deductible. Owners who fail to carry this coverage owe unit-related costs after a loss, up to that deductible. The association does not have to use shared funds for those unit-related costs. For condos created before July 1, 1982, these rules apply to events and circumstances after July 1, 1982.

Condo owners get deductible change notices

Condo associations must tell owners in writing when their insurer reports a change in the property-insurance deductible. The notice must state the deductible amount and arrive within 30 days after the association receives the insurer's notice. It must also say owners are legally required to tell their mortgage lender about the change. For condos created before July 1, 1982, this rule applies to events and circumstances after July 1, 1982.

Condo bylaws can change repair shares

After condo property damage, repair or replacement costs above insurance payments are shared expenses after the association deductible is applied. The condo declaration or bylaws can set a different way to divide those costs. The law allows bylaws, not just the declaration, to change how much individual owners must pay.

Sponsors & Cosponsors

Sponsor

Brandon T. Voas
Democratic • House

Cosponsors

Karen Alzate
Democratic • House
Stephen M. Casey
Democratic • House
Julie A. Casimiro
Democratic • House
Alex S. Finkelman
Democratic • House
Katherine S. Kazarian
Democratic • House
Carol Hagan McEntee
Democratic • House
William W. O'Brien
Democratic • House
Patricia A. Serpa
Democratic • House
Joseph J. Solomon, Jr.
Democratic • House

Roll Call Votes

All Roll Calls

Yes: 70 • No: 0

House vote • 6/5/2025

CONDOMINIUM LAW PASSAGE