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What are the legal ramifications of withholding the monthly condo association fee?
ClaraK
The monthly condominium association fee -- properly, assessment -- is a sum of money you agreed to pay when you purchased your unit.
Assessments are spent to pay for services that all owners enjoy, such as maintenance, safety and protection of real estate assets owned in common, including in some cases, basic utilities.
Read your governing documents to remind yourself of your agreement to pay. Withholding your payment means that you're asking your neighbors to pay your bills.
Further, you can read the steps that your board can take to collect this debt that you owe, including placing a lien on your title, perhaps locking you out of access to amenities, and finally, usually as a last resort, selling your unit to satisfy your financial obligation to your community.
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Lost my job have not paid condo fees for years I own my condo and pay monthly mortgage but not enough money for condo fees. I am on ssi and food stamps.?
You can wait for the association to take action against you for the debt you owe, or you can take action and explore payment plans that fit into your current situation.
Can you deduct any part of the monthly fee to the condo association on your taxes?
Probably not, since your monthly assessments pay operational bills and contributions to reserves for replacing major real estate assets, none of which is tax deductible.
Can Florida condo association turn off electricity for the lack of payments of condo fees?
Read your governing documents to determine which actions your association can take in order to collect assessments that you owe and do not pay. As well, it's reasonable, for example, that if you don't pay your monthly assessments, and the association pays your electric bill from assessments that are collected, that they can deny electric service to you, since you aren't paying for it.
Is a condo association a business?
Absolutely, yes. The association may be incorporated as a profit, not for profit, or an unincorporated association.
Can you know the status of a condo association?
Yes.You can request the status of the association from the Secretary of State where the association is located.
If condo association forecloses on an owner does the lender pursue deficiency judgment against the owner or condo association?
Your attorney can help you answer this question, since it requires a legal answer.
What companies in Chicago offer condo association insurance policies?
State Farm, Progressive and Geico are some well known companies that offer condo association insurance policies. There are local and lesser known companies such as Melendez Insurance that offer condo association insurance policies also.
Can you rent out a bedroom in your 2 bedroom condo in Florida?
Only if the Condo Association allows it. It could otherwise fine you.
Can a lien be filed for nonpayment of assesments from a condo association?
Yes.
Is a townhouse like a condo?
A little, but they are different. A townhouse is usually a row house, one of several attached buildings. They may have completely separate ownership. A condominium ("condo") is often more like an apartment but essentially it is a residence that is part of a group that has shared management and maintenance. The condo owner is responsible for inside the walls the a Home Owners Association (HOA) is responsible for the outside and the grounds. The condo owner will pay a monthly fee to the HOA for this work.
Have Florida legislators passed a law to force condo owners to pay their condo fees?
no but trying to If a condo owner falls more than 90 days in arrears of association, the right to use common areas can be suspended by the association until such dues are paid.
What can a condo resident do about loud noises?
Fiile a noise complaint with the Condo association and if that doesn't work, the local police department.Added: Loud noises from whom or what? The Condo Association MAY have control over some annoyances but for others you may need the police (as advised above). Speak to your Condo Board of DIrectors to see if they can assist you.
