Wyoming • Reserve study / underfunding
Is your Wyoming condo's reserve underfunded — and does the state require funding?
A reserve study can read as reassuring while quietly showing your Wyoming building is years behind on saving for its roof, elevators, or façade. What matters is how funded the reserves actually are — and what Wyoming requires.
The short answer
Wyoming does not require a reserve study and does not require the association to fund it. No reserve study or funding mandate. The condo act is silent on reserves and there is no HOA act — no study requirement, no funding minimum, no percent-funded target, and no reserve-disclosure duty. A board can fund zero reserves and remain compliant. Any reserve obligation comes only from the recorded declaration or from lender/secondary-market requirements. A thin reserve is the most common reason a special assessment lands later, so the study-versus-actual-balance gap is the number that matters. CondoSignal reads your reserve study and budget against Wyoming's rules. Free.Wyoming at a glance
Reserve study
Not required
None — no statutory study, minimum, or disclosure
Reserve funding
Not required
Underfunding is legal here
Super-lien
None
Resale disclosure
Cancellation right
None — no statutory rescission
What Wyoming requires
No reserve study or funding mandate. The condo act is silent on reserves and there is no HOA act — no study requirement, no funding minimum, no percent-funded target, and no reserve-disclosure duty. A board can fund zero reserves and remain compliant. Any reserve obligation comes only from the recorded declaration or from lender/secondary-market requirements. Whether a thin reserve is merely risky or actually out of compliance depends on that rule — which is the first thing to establish.
Why underfunding becomes an assessment
With no reserve or inspection mandate, special assessments are the default funding tool for major repairs (roofs, decks, façades, mechanicals, Teton-area WUI retrofits). Approval thresholds and any cap come entirely from the declaration. No disclosure duty forces a seller to reveal a pending assessment. The 'percent funded' figure in the study, compared to the actual reserve balance, tells you how exposed you are.
What it means for collection and resale
Not a super-lien state. The condo act creates NO statutory assessment lien; Wyo. Stat. § 34-20-104 only confines the tax lien to the individual unit. Any assessment lien arises from the recorded declaration and sits behind a prior-recorded first mortgage. No statutory estoppel/payoff duty — unpaid assessments must be confirmed via title search. No statutory resale/estoppel certificate and no buyer cancellation right — one of the weakest disclosure regimes in the U.S. Nothing is delivered by statute. Any document delivery and cancellation right must be negotiated into the purchase contract; the member records-inspection right (§ 17-19-1602) runs to members, so a buyer works through the seller.
Your rights in Wyoming
As a Wyoming owner, your reserve information and any approved special assessments should appear in the association's budget and resale disclosures (none — no statutory rescission). None of this is legal advice — confirm against the current statute and a licensed professional in your state.
What to check
- Find the reserve study's 'percent funded' figure.
- Compare the recommended contribution to what's budgeted.
- Confirm whether Wyoming mandates reserve funding — it doesn't, so the board can legally run reserves thin.
- Check the remaining life of the roof, elevators, and façade.
- Note Wyoming has no super-lien, so owner delinquencies fall straight onto the budget.
- Look for a reserve catch-up or a recent special assessment.
- Check the study's date — an old study understates today's costs.
Sources
- Wyo. Stat. Title 34, Ch. 20 — Condominium Ownership Act (§§ 34-20-101 to 104)(High)
- Wyo. Stat. Title 17, Ch. 19 — Wyoming Nonprofit Corporation Act(High)
- Wyo. Stat. § 17-19-1602 — member inspection of records(High)
Educational only — not legal, financial, or engineering advice. Confirm against the current statute and, where it matters, a Wyoming-licensed professional.
Related guide
Wyoming reserve studies — the full guide →This page answers what to do right now. For how reserve studies works in Wyoming — the law, the process, and what to check before you buy or sell — read the full state guide.
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“The board approved a $15,000-per-unit special assessment for façade repairs, payable over 12 months.”
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