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Usury and your HOA

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Compounding interest, late fees, and processing fees can sometimes lead to claims that the association has violated state and federal usury laws. Usury laws apply only to loans, and homeowners association assessments are not considered loans.  Generally, usury laws should not apply to homeowners association late fees.  However, some courts have disagreed with this positionGo to Resource

Clearing the Air on Questions Related to Radon Mitigation

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Question: A condominium unit tests high for radon. The radon report shows that the radon has entered into the unit through the concrete floor; therefore, the owner asks the association to mitigate it. Is the association responsible for mitigating radon found in the unit? Answer: Typically, the association would not be responsible for mitigating radonGo to Resource

So, What’s Your Position?

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Ok, so you have a delinquent owner that the association wants to foreclose on.  It is common knowledge that delinquent assessments give rise to liens which encumber the property for the amounts owed. But what if the association isn’t the only one not being paid? What if there is a lien from a credit cardGo to Resource

CCIOA Corner—Unit Boundary Reallocations

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Have you ever been confronted with a situation where an owner who owns two adjacent units wants to merge the units together, or a situation where two owners want to reallocate their unit boundaries?  If so, Section 212 of CCIOA provides guidance with respect to this process if your declaration is silent. Keep in mindGo to Resource

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