Resources

Most condominium boards are struggling, to some extent, with delinquent common area fees, budget shortfalls, rising foreclosures and other collateral damage from the economic downturn.  Many condominiums will also confront, if they haven’t already, another problem –stalled developments. Some developers who began large-scale, multi-phased projects in happier times earlier in this decade have hit anGo to Resource

A private transfer fee (“PTF”) — also known as a reconveyance fee instrument — is a financial instrument where a developer adds to a covenant, a deed, or home purchase contract requiring a percentage of a home’s sale price (usually 1%) be paid every time the property is sold, typically for 99 years. To viewGo to Resource

Your association recently had its annual meeting and 2 board positions were up for election.  Out of 200 members, 10 were in attendance at the meeting, and an additional 10 submitted a proxy for their vote.  There were a total of 20 votes out of a possible 200, or ten percent.  Was apathy or inconvenienceGo to Resource