The state law governing owner-builder requirements was amended this year to clarify what constitutes a Hardship. The owner-builder law was previously amended last year to allow Sellers to sign as owner-builders and sell their home in less than 12 months, (a General Contractor is not required) if the work < $10,000 valuation. Evidence of what is considered hardship include:
(A) Evidence of receipt of unemployment compensation;
(B) Tax returns;
(C) Medical records;
(D) Bank statements;
(E) Divorce decrees ordering sale of property;
(F) Mortgage default letters; or
(G) Bankruptcy filings.
Clarifies that an owner with an open permit may be exempt, upon a showing of hardship, from the prohibition on sale of lease of a property constructed or improved under an owner-builder exemption within one year of the construction or improvement. (HB319 CD1)
Link to the act.
