As we say good-bye to 2019 and welcome 2020, many of us have created a list of New Year’s resolutions. Perhaps your community has made a resolution to lower expenses? Perhaps your community took it one step further and resolved to lower legal expenses? But how is an association to do that? Below is aGo to Resource
Financial Resources
Elina is quoted in this article regarding “How Much Disaster Planning can you do without Increasing your Condo/HOA’s Liability?” published on www.HOALeader.com.
What do you do when you receive a check from a delinquent owner with a restrictive endorsement on it? Do you cash it? Do you return it? Do you call the attorney? A restrictive endorsement is a written statement sent with a payment that either defines what the check is written for (such as “AssessmentsGo to Resource
Part of the duties of a community association’s board of directors includes fiscal responsibility. Among other things, the board of directors is tasked with prioritizing and making decisions regarding the best use of the association’s limited financial resources. Expenses such as common area maintenance, insurance, water, and professional services including management, accounting, and legal areGo to Resource
A proof of claim is a document filed with the court in a bankruptcy case that registers a creditor’s claim against assets of the bankruptcy estate. A more simplified explanation is that it’s the form the creditor completes and files that tells the bankruptcy court how much that creditor is owed and why. ItGo to Resource