What do Apple Computer, Mary Kay Cosmetics, and the Ford Motor Company all have in common? These corporations all started out as home-based businesses. With recent technological gains, more individuals are not only working from home but, in fact, more than half of all U.S. businesses are based out of an owner’s home[1]. In addition, with technological advances, many tasks…
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With the summer heat wave in full force, it is nice to enjoy a refreshing dip in the pool to cool down. Also, pools are not only good for cooling down but also provide numerous other benefits, including family time without the distractions of today’s technology, fitness training, stress relief, therapy and helping to keep children active. Additionally, community pools…
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Numerous condominiums in Michigan restrict (or outright ban) sculptures, statues, lawn ornaments, birdbaths or other items pursuant to the condominium documents. Many of these provisions were drafted by the developer when creating the condominium in order to provide uniformity during the sales process. Likewise, many declarants subject a platted subdivision to deed restrictions that also restrict or ban the use of…
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This article reviews some of the issues that may arise with an association member in default on their mortgage, and describes some potential options available to an association to address the issue.
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As April 15th approaches, many Michigan residents are reviewing various sources of gross income, tax credits and tax deductions in order to prepare individual or joint income tax returns. In addition to personal income taxes, newer directors may be unaware that their condominium or homeowners’ association is also required to file federal income taxes on an annual basis. For the…
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In most Michigan condominium associations, the same individuals serve as both directors and officers of the nonprofit corporation in charge of the condominium. Often times, there is confusion or misunderstanding about the difference between a “director” and an “officer.” Thus, co-owners routinely ask our office to explain the difference and why the Condominium Bylaws[1] differentiate between directors and officers. The…
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