Condominium associations rely on assessments to fund shared services, including building maintenance, landscaping, insurance, common utilities, and reserve planning. Board members are legally obligated to protect the condo association’s financial health, and part of that fiduciary duty is to ensure that every co-owner pays their
Do Condo Sellers Have to Disclose Future Assessments? What Holcomb Clarifies About MCL 559.211 When buying a condominium in Michigan, one crucial question often arises: Who is responsible for unpaid assessments—the seller or the buyer? Michigan law, specifically MCL 559.211, does provide some protection for buyers,
Michigan Court Confirms: Tax Foreclosure Sale Does Not Eliminate Obligation to Pay HOA Assessments On May 12, 2000, the Michigan Court of Appeals issued an important decision in Lakes of the North Association v. Twiga Limited Partnership, clarifying that a Michigan tax foreclosure sale does not
Understanding the Michigan Reserve Study Bill: Essential Updates for Condominium Associations Did you know that Michigan's HB 5019, a new bill pending in the Michigan House, aims to bring significant changes to the way condominium associations manage their reserve funds? Currently, Michigan law requires that condominium associations
Should You Discount Assessments for Board Members? When managing a community association, the question of whether board members should receive discounts on their assessments can arise. While it might seem like a small gesture of appreciation for their volunteer service, there are several reasons why this
Ensuring Financial Stability: When to Initiate the Collection Process for Condominium Associations Condominium associations occupy a critical role in maintaining the economic health of community living spaces, balancing the delicate intersection of collective responsibility and individual financial obligations. Ensuring financial stability within these communities hinges on
