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HomeCondo and HOA Assessments (Page 2)

Condo and HOA Assessments

Board of Directors, Collections, Condo and HOA Assessments, Document Amendments, Michigan Condominium Lawyer

Til Death Do Us Part, Or Do We?: Collecting Community Association Assessments from a Deceased Owner in Michigan             The 2021 Michigan Community Association Fact Book (the “Fact Book”) compiled by the Foundation for Association Research estimates that from July 1, 2019, to July 1, 2021

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Condo and HOA Assessments, Condo Lending, Condo Loans, Reserve Funds

Nearly 2 years after the Surfside collapse, the New York Times recently reported that a 35-unit condominium in North Bay Village, Florida was ordered to be evacuated after an engineer deemed the condominium to be structurally unsound.  The engineering report provided to North Bay Village

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Condo and HOA Assessments, Michigan Condominium Act, Reserve Funds

Introduction In Michigan, the laws related to the governance of the formation and operation of condominium projects are found in the Michigan Condominium Act (the “Act”), MCL 559.101, et seq. MCL 559.205 of the Act requires a condominium association to maintain a “reserve fund,” to be

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Collections, Condo and HOA Assessments, Michigan Condominium Act

MCL 559.169 allows for a Michigan condominium association to impose assessments against all co-owners in order to pay for the common expenses that are necessary to operate the condominium. When a co-owner fails to pay assessments, it places a strain on the condominium association’s budget

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