How do you form condo owners assoc?

Answer 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 »

Top Q&A For: How do you form condo owners assoc

How can a condo assoc have unpaid assessments show up in owners credit report?

Your assessments cover your share of the expenses that the association pays to operate and preserve the property that you own. If you enjoy the amenities without paying for them, essentially you're... Read More »

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 »

Can a condo assoc forclose on a unit?

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 »

Does a lien from condo assoc go away once fee's are paid?

In order for the lien to be removed from your title, the association must file a release of the lien, and would do so once your assessments are paid, together with any fees and expenses related to ... Read More »