HOA Costs in Vermont (2026): What Buyers Need to Know Before They Close

What Vermont's HOA Statute Actually Requires

Vermont Common Interest Ownership Act (Uniform Common Interest Ownership Act (1994)), 27A V.S.A.

resale disclosure · 27A V.S.A. § 4-109(a)

On resale (where no public offering statement is required) the unit owner must give the purchaser, before conveyance or transfer of possession, the declaration, bylaws, rules and a resale certificate disclosing periodic and unpaid assessments, other fees, reserves and designated reserve amounts, latest balance sheet and income/expense statement, current operating budget, unsatisfied judgments and pending suits, insurance coverage, known declaration or code violations, and resale-price restrictions. 27A V.S.A. § 4-109(a). (Vermont General Assembly, retrieved 2026-09-14)

buyer cancellation/review period · 27A V.S.A. § 4-109(c)

The association must furnish the resale certificate within 10 days after the unit owner's request; the purchaser is not liable for unpaid assessments or fees above the certificate amount, and the purchase contract is voidable by the purchaser until the certificate is provided and for five days thereafter. 27A V.S.A. § 4-109(b), (c). (Vermont General Assembly, retrieved 2026-09-14)

resale certificate fee cap · 27A V.S.A. § 3-102(a)(12)

The association may impose 'reasonable charges' for preparing resale certificates and statements of unpaid assessments; no dollar cap appears in the statute. A statement of unpaid assessments must be provided within 10 business days of a request made in a record and is binding on the association. 27A V.S.A. § 3-102(a)(12); § 3-116(i). (Vermont General Assembly, retrieved 2026-09-14)

reserve study requirement · 27A V.S.A. § 3-123(a)

The Act does not mandate a reserve study. Instead the board must adopt a proposed budget at least annually and, within 30 days, give owners a budget summary that includes reserves and the basis on which they are calculated and funded, then hold a ratification meeting 10–60 days later; the budget stands unless a majority of all owners reject it. Resale certificates must disclose reserve amounts (§ 4-109(a)(4)). 27A V.S.A. § 3-123(a). (Vermont General Assembly, retrieved 2026-09-14)

assessment/late fee/collection & foreclosure limits · 27A V.S.A. § 3-116(m)

The association has a statutory lien for assessments and fines, with priority over a prior first mortgage for up to six months of budget-based assessments; interest on past-due assessments may not exceed the legal rate (§ 3-115(b)); the lien is extinguished unless enforcement begins within three years; foreclosure may be commenced only if the owner owes at least three months of assessments, has failed to accept or comply with an offered payment plan, and the board votes to foreclose that unit; foreclosure must be commercially reasonable. 27A V.S.A. § 3-116(c), (f), (m), (p). (Vermont General Assembly, retrieved 2026-09-14)

open meetings & records access · 27A V.S.A. § 3-108(b); § 3-118(b)

Executive board and committee meetings must be open to unit owners except for executive sessions on limited topics (attorney consultation, litigation, personnel, contracts under negotiation, privacy), with no final vote in executive session; notice of board meetings must be given at least 10 days before and owners get a reasonable opportunity to comment (§ 3-108(b)). Owners may examine and copy association records on five days' notice, subject to listed exceptions and a reasonable copying fee (§ 3-118(b)-(d)). (Vermont General Assembly, retrieved 2026-09-14)

dispute resolution / ombudsman / registration · 27A V.S.A. § 3-102(a)(16)

The association may require that disputes between the executive board and unit owners, or among unit owners, be submitted to nonbinding alternative dispute resolution before a lawsuit may be filed. 27A V.S.A. § 3-102(a)(16). (Vermont General Assembly, retrieved 2026-09-14)

recent law change · 27A V.S.A. § 4-110(b)

27A V.S.A. § 4-110 (escrow of purchaser deposits paid to a declarant required to deliver a public offering statement) was amended by 2023 Act No. 96 (Adj. Sess.), effective April 29, 2024, allowing a declarant to withdraw escrowed deposits for actual construction costs only if the purchase agreement permits it and the declarant obtains a surety bond protecting the purchaser's deposit and gives the purchaser a copy. (Vermont General Assembly, retrieved 2026-09-14)

applicability (small planned communities) · 27A V.S.A. § 1-203(a)

A planned community with no more than 24 units and no development rights, or whose declaration caps average annual residential common expense liability at $300 (as adjusted under § 1-115), is subject only to §§ 1-105, 1-106 and 1-107 unless its declaration adopts the whole Act. 27A V.S.A. § 1-203(a). (Vermont General Assembly, retrieved 2026-09-14)