What are the legal ramifications of withholding the monthly condo association fee?
The monthly condominium association fee -- properly, assessment
-- is a sum of money you agreed to pay when you purchased your
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.
Yes. Read your governing documents to remind yourself of your legal obligations to the association, and the association's responsibilities, which may include foreclosing on a unit in order to, for example, satisfy a debt because the owner refused to pay monthly and other assessments. Read More
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. Read More
Yes. The association can file a lien on your title to force you to pay a debt that you owe, usually unpaid monthly assessments. Read More
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. Read More
The condo association may file a lien against your condo unit. If you still don't pay the dues you owe, the condo association may sue you to foreclose on your condo. I highly recommend working out a payment plan with the association, if possible. When you don't pay your assessments, essentially you ask your neighbors to pay your bills. Read More
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. Read More
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. Read More
Absolutely, yes. The association may be incorporated as a profit, not for profit, or an unincorporated association. Read More
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. Read More
Condo property management can be found from websites such as Condo Inc and All Property Management. Another example of a website is Condo Association Management. Read More
Only if the Condo Association allows it. It could otherwise fine you. Read More
Yes. You can request the status of the association from the Secretary of State where the association is located. Read More
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… Read More
"This depends on the type of condo, the housing market, and where in Seattle it is located. The average price for a middle range style condo can be around 250k and monthly cost will depend on you mortgage statements and you deal with the bank." Read More
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. Read More
Some condo association management companies in Chicago include Root Reality, Inc and SGJ Property Management. You can learn more about these companies online at their respective websites. Read More
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. Read More
A proxy is a document signed by an owner that gives the signer's association vote to another person. Read More
Yes. Your association counsel can guide you as to which documents must be filed and where each should be deposited. Read More
Read your governing documents to determine the service period for all directors of your association. Read More
No, only defined "common areas" owned by the condo association are considered common areas, and unbuilt lots usually belong to an individual (e.g., the developer or an investor). If the association owns them, they are most likely reserved for sale to a future tenant/builder, although the proceeds of the sale will go to the association. Read More
IF my upstairs condo is untouched by a flood but the building's ground floor is damaged so badly that the entire building is unlivable would my flood insurance protect me?
Let's first review what a condo is. A condominium is an arrangement in which you own your own living space outright (your condo apartment), and you share joint ownership (with all the other condo owners) of the common spaces. There will be (at least) two insurance policies in effect: (1) the condo association policy, which covers (at least) the common areas, and (2) your own personal policy, which covers the contents of your condo apartment… Read More
Yes. The association's financial advisor can help you. Read More
Yes. This is usually a last resort, but it is possible. Read More
The board or the association manager can answer your question. Read More
What is the process of your condo association putting a lien on your property if your mortgage is paid up?
The association must notify you of assessments due, and afford you a payment plan to pay your assessments. Usually, these are monthly payments you make to the association. When you don't pay your assessments, the association may file a lien on your title. What you owe to the association is not related to your mortgage. Your mortgage is a financial relationship that you have with your bank. Your assessments pay for the operation of the… Read More
What happens to the first mortgage on a condo in Florida when the condominium association forecloses for unpaid association fees?
A creditor that has perfected its lien by a court action can take possession of a property as a result of the debtor's failure to pay their debt. An HOA that has a lien on your property for unpaid fees can take possession of your property by foreclosing on that lien. Generally, in the case of an outstanding mortgage, the HOA would take possession of the property subject to the mortgage. However, the mortgage would… Read More
Live in condo.. A unit owner repeatedly found urinating in garbage bin on condo grounds. What can the association do to this individual?
This sounds like a situation for the police. Read More
You can request a copy from your association manager, or broker who sold the master policy coverage to the association. Read More
Depending on the context, it may be an umbrella association that oversees or is related to a group of individual condominium or other land-use associations. Read More
Typically, each condo association has their own Declarations and By-Laws. What may be acceptable in one association may not be in another. Refer to the one associated with the Condo in question. If you don't have a copy ask your association. If you need help reading the verbiage, it is best to ask for legal assistance. Read More
A condo association is a term that is used to describe a group of common ownership communities. They have the right to collect fees, regulate rules and put liens on homes. Read More
You would have to find out the laws associated with your house, condo and/or land agreement. Read More
Your association manager or board may be able to answer your question. Read More
That would be a silly thing to do. What about the rest of the structure and liability? Read More
Your association attorney is better prepared to answer this question in your particular situation. There is no standard. Read More
Depends on your MAINTAINENCE agreement Read More
A local insurance broker can answer your question. Read More
Condominium living implies assessments, regardless of the amenities owned by the association. Read More
A local realtor can help you understand the price and ongoing expenses of a condominium in any geography. Read More
A Condo association purchases coverage for parts of the property that are commonly owned by the people who own Condos in the development. This is why you pay dues to the association, for insurance and taxes on common property. Most Condo agreements means that you own the property from the bare sheetrock inward, meaning you own the paint, floor covering, furniture, appliances, etc. The commonly owned property is things such as sidewalks, roof, walls, pools… Read More
Not sure what you mean by a barter, but a condo association generally has a set budget and set types of expenditures, such as keeping up and decorating the clubhouse and other common areas. As long as the barter is not specifically prohibited by the association agreements, and the budget is there, and the association uses the appropriate channels to purchase and install this item, yes, they can. Read More
The powers of the Condominium Association regarding a default on condo fees should be set forth in the Master Deed, Rules and Regulations and Declaration of Trust if there is one. The procedure for collecting unpaid fees should be set forth in those documents. The Condminium Association should be able to record a certificate of unpaid condo fees. Read More
Read your governing documents to determine whether or not this is a criteria for your association. Often, this is most desirable, but may not be a requirement of the community's official guidelines. Read More
They usually don't foreclose for a condo fee, but they will place a lien on the home, meaning it cannot be sold until the lien is resolved. You can read all about the association's responsibilities to collect condominium assessments and the process that can be followed in order to collect this debt in your governing documents. Foreclosing on your unit is usually an option, and the last one that an association would probably pursue. But… Read More
"It's all about location, location, location. A 2 Bedroom condo in Miami,Fl., can be $500,000 in an upscale neighborhood, and $200,000 in an average neighborhood. In addition to the mortgage, condo owners can also expect to pay for amenities, for maintenance, from $100-$600 monthly." Read More
No, it is private property owned by all owners in the condominium association. Read More
Read your governing documents to determine the uses for your property allowed by the association. Read More