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HomeMichigan Condominium Act (Page 11)

Michigan Condominium Act

In Michigan, the Michigan Condominium Act, MCL 559.157, requires that the “…books, records, contracts, and financial statements concerning the administration and operation of the condominium” be available for examination by the co-owners at convenient times.  Accordingly, most condo documents also contain provisions that require the books

The Michigan Condominium Act was amended in 2014 to impose additional requirements on condominium associations with respect to financial record keeping and encourage transparency.  Prior to 2014, the annual audit or review of an association’s books, records and financial statements did not need to be

Every community association in Michigan undergoes a transition or “turnover” phase whereby the control of the community association changes from developer control to owner control.  In Michigan, the transition process for condominiums is governed by the Condominium Act, MCL 559.110, et al. Unfortunately, homeowner associations

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