(a) Shall exist on a unit and the related limited common elements for not less than one year from the date of delivery of possession of that unit by the declarant to the first unit owner other than the declarant;
(b) Shall exist on the general common elements for not less than one year from the initial conveyance of title to a unit by the declarant to a unit owner other than the declarant, or, in the case of a staged or a flexible condominium, for not less than one year from such initial conveyance of title or completion of the construction of the specific general common element, whichever is later;
(c) Shall be contained in the contract or other agreement to purchase;
(d) Shall be separate from, and in addition to, any warranties provided by any other person;
(e) Shall be in lieu of any implied warranties by the declarant against defects in the plumbing, electrical, mechanical, structural or other components of any newly constructed unit or common elements; and
(f) Shall name the association of unit owners as an express beneficiary with regard to general common elements.
(2) A written claim reasonably specifying a breach of the warranty on the unit and the related limited common elements must be delivered to the declarant before the expiration of such warranty. A written claim reasonably specifying a breach of the warranty on the general common elements must be delivered to the declarant within two years of expiration of such warranty, but the claim must be for a defect existing prior to the expiration of such warranty under this section. An action to enforce such warranty shall not be commenced later than four years after expiration of such warranty.
(3) For the purposes of this section, "newly constructed units and common elements" means:
(a) Units and related limited common elements:
(A) That have been substantially completed for less than three years; and
(B) That have been occupied for less than 12 months.
(b) General common elements:
(A) That have been substantially completed for less than three years; and
(B) That were constructed contemporaneously with units that have been occupied for less than 12 months.
(4) The warranty required under subsection (1) of this section is not required for consumer products as defined in 15 United States Code 2301 (1). [Formerly 94.017; 1999 c.677 §45; 2001 c.756 §35]