Resources

Harsh New Time Limits on Construction Defect Claims

Filed Under Construction Defect, Litigation

Posted September 17, 2011

A recent Colorado Supreme Court decision, Smith v. Executive Custom Homes, Inc., 230 P.3d 1186 (Colo. 2010), considerably shortens the time limit for bringing many construction defect lawsuits. Homeowners and homeowner associations risk losing the right to seek reimbursement from builders, developers and other construction professionals unless they carefully and quickly act upon discovery ofGo to Resource

Write Offs From Owner Bankruptcies Bankrupting Your Association?

Filed Under Collections

Posted September 17, 2011

Nearly every association has had to deal with the situation where an owner stops paying assessments and does not respond to late notices from the association. The association then refers the owner’s account to legal counsel, who files suit against the owner. At some point during the collection process, however, the owner files for bankruptcyGo to Resource

When Have You Won? How to Evaluate Settlement Offers from Delinquent Homeowners

Filed Under Collections

Posted September 17, 2011

How do you know when you’ve won and achieved your goal in a collection action? Specifically, when should the Board consider accepting less than the total amount of the debt owed by a delinquent homeowner? How should you evaluate settlement offers to ensure the association actually gets the money it’s attempting to collect? It’s alwaysGo to Resource

What To Do With Uncollectible Debt

Filed Under Collections, Foreclosure

Posted September 17, 2011

In today’s economy of rampant foreclosures and bankruptcy filings, it is becoming all too common for associations to be confronted with the unpleasant task of “writing off” uncollectible debt. There are a few common instances when a debt becomes uncollectible. When an owner files a bankruptcy and obtains a discharge from the court, then allGo to Resource

What Do Owners Do with Their Properties After Filing Bankruptcy?

Filed Under Collections

Posted September 17, 2011

With bankruptcy numbers still on the rise, questions continue to abound regarding the impact an owner filing for bankruptcy has on an association…especially when it comes to collection of assessments. Bankruptcy is a means by which a person (which can be an individual, partnership or corporation) seeks relief from debt. If a bankruptcy is successful,Go to Resource

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