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
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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
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
Unhappy employees might be thinking high turnover rates are the sign of miserable work conditions. Salespeople might be thinking low turnover in sales is a sign of inefficiency. Broncos fans might be thinking three turnovers in the first quarter is a sign of….well, not sure how to finish that sentence. I, on the other hand,Go to Resource
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