A condominium developer converting an apartment building into condominiums and selling units must provide which documents to buyers?

• A. Environmental impact report.
• B. Warranty deed.
• C. Title insurance binder.
• D. Condominium buyer's handbook and disclosure statement.

Answer: (D)

When a rental building is converted to condominiums, buyers need clear, standardized information about what they’re getting and what their ongoing responsibilities will be. The condominium buyer’s handbook explains how a condominium is organized, how the association functions, and what unit owners can expect in terms of governance, voting, assessments, and upkeep. The disclosure statement provides detailed facts about the project itself—legal documents (like the master deed and bylaws), the current and projected finances of the association, anticipated or known upcoming assessments, restrictions on use, and any known defects or legal issues. Together, these materials equip buyers to make an informed decision before purchasing.

Environmental impact reports, while important in some planning contexts, aren’t the standard buyer-disclosure package for condo conversions. A warranty deed is a deed transferring title and is not the required disclosure package. A title insurance binder is part of the closing process to insure title, not a buyer-disclosure document. Therefore, the documents buyers typically must receive in a condo conversion are the condominium buyer’s handbook and disclosure statement.