When a property is set for a closing, the title company handling the closing will request a status letter from the management company or board. The status letter contains quite a bit of information, including telling the title company how much of the profits from the sale should be withheld to pay the balance dueGo to Resource
Newsletters
The Corporate Transparency Act (“CTA”) has caused panic and confusion among the HOA industry. Both managers, board members, and others in the industry are wondering what it means for them and how they can comply with the requirements. The CTA is a federal law requiring corporations and other businesses to report their “beneficial ownership” informationGo to Resource
The Shopping Cart Theory – A Test of Moral Character Congratulations, you made it through the holidays! I hope you enjoyed yourself too much, laughed too hard, ate too many treats, and had another wonderful holiday season with friends and family. And, I trust you are now as thrilled as I am to have itGo to Resource
So last month I was at the doctor’s office, and as I was making small talk with the nurse she asked “So what do you do?” I responded “I’m an HOA attorney.” She actually grimaced. It was a clear knee-jerk reaction. And then she laughed, said sorry, and made some comment about her friend’s trashGo to Resource
What is a special assessment? A special assessment is an assessment that is not contemplated in an association’s budget for the fiscal year and is therefore over and above the regular assessments imposed in accordance with an association’s budget. One reason for imposition of special assessments is to pay for unexpected repairs and replacements occasionedGo to Resource