Can a condo assoc forclose on a unit?

Answer Yes. Read your governing documents to discover under which terms the association can sell your unit.Generally, this is possible when an owner who has agreed to pay assessments, fails to pay them, s... Read More »

Top Q&A For: Can a condo assoc forclose on a unit

Can condo assoc located in Illinois place in unit owners credit report unpaid assessments?

If you owe assessments that are unpaid, you are in violation of the financial agreement you made with the association. The association is required to pursue you to collect this debt. You can read y... Read More »

Is there a law regarding condo fees I live in a four-unit condo One of the members has not paid his condo fee for 7 months?

Yes, and the law is a local state law, plus the governing documents under which the association operates the property. Read your governing documents and follow the guidelines there to collect the p... Read More »

Is the owner of a condo unit responsible for water damages from a leak in his unit to a unit below?

Only if the owner above was negligent somehow. A pipe simply bursting suddenly and without warning would not trigger any liability of the unitowner. However, if the unitowner above was filling his... Read More »

How do you form condo owners assoc?

You hire an association-savvy attorney in your state who tailors the state's condominium law -- if there is one -- to fit you, the developer's, business objectives. The original association documen... Read More »