What kind of disclosure must be provided to buyers regarding the homeowners association?

Buyers must be provided with a disclosure summary about the homeowners association to ensure they are well-informed about the rules, fees, and regulations that govern the community. This summary typically includes important details such as the association's responsibilities, the types of assessments or dues that may be required, and any restrictions on property use. Understanding this information is crucial for prospective homeowners to make informed decisions, as it directly impacts their living experience and financial obligations within the community.

The other options do not hold the same significance in the context of necessary disclosures for prospective buyers. Personal benefits of joining the association may vary from individual to individual and are not universally applicable. Information on property taxes, while important, does not specifically relate to the homeowners association itself. The list of neighborhood celebrities is irrelevant and does not provide any useful information regarding the association or the properties within it. Thus, the disclosure summary is essential for a transparent and informed transaction.