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Read your governing document to determine if there are any restrictions in this situation.
As well, in this situation, the 33% and 66% numbers can be red flags for insurers and mortgage lenders given current restrictions involving percentages of ownership..
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∙ 8y ago
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Live in condo.. A unit owner repeatedly found urinating in garbage bin on condo grounds. What can the association do to this individual?
This sounds like a situation for the police.
What if the condo owner does not keep condo in good condition?
If the condo owner does not keep the condo in good condition, it could negatively impact the value of the property and potentially violate any rules or regulations set by the condominium association. The condo owner may face fines or penalties and may be required to make repairs or improvements to the unit. Additionally, neighboring condo owners may have the right to take legal action if the lack of maintenance or upkeep affects their own property.
Is the owner of condo responsible for fixing driveway?
It depends on the specific terms outlined in the condo association's bylaws or the individual condo's governing documents. In some cases, the responsibility for maintaining and repairing driveways may fall on the condo association, while in others it may be the responsibility of the individual condo owner. It is best to review the governing documents or consult with the condo association to determine who is responsible for the driveway repairs.
Can one unit owner own a majority of a condo association property?
Read your governing documents to determine whether or not this is possible within your association. Limitations may include lenders' positions on this issue.
Can a property manager rent a condo unit knowingly that it is in foreclosure?
Renting a condominium unit is the privilege of the owner. If the association manager has written authorization from the titled owner, then rental of the unit is legal. When there is doubt about the legality of executing a rental agreement, thus renting a unit and/or producing/ capturing/ being involved in that rental revenue stream, consult with your association counsel.
What is loss assessment on a homeowners policy?
If a condo association has a loss and the association's insurance is inadequate to cover the loss, the association is permitted to assess each unit owner for the amount they are lacking. However, since there is no negligence on the unit owners part this is generally not covered by the owner's own liability portion of his policy. The unit owner must purchase additional loss assessment coverage to protect against this additional loss assessment scenario.
The entire chimney interior needs to be rebuilt. Is a fireplace rebuild paid by the owner or condo association?
Read your governing documents to determine who owns the fireplace. If it belongs to the unit, then you pay; if it belongs to the association as a common element, then the association pays. Fireplaces -- and water-related assets -- are problematic, since when such an asset fails within a unit, other units are generally also involved. The savvy association monitors, inspects and repairs these kinds of amenities, for the general protection of the community.
Who owns the screen door of a condo unit?
Typically, the screen door of a condo unit is owned by the unit owner. However, it's essential to check the specific rules and regulations of the condominium association or the governing documents to confirm ownership responsibilities for maintenance and repairs.
Can a condo assoc forclose on a unit?
By filing liens against the owner(s) of the unit. If the liens go unpaid, the association can foreclose on the unit and sell it in order to satisfy the liens.More DetailForeclosing a unit to pay any monies owed to the association is usually a last step in a process that begins with the association notifying the owner(s) that monies are owed.Owner(s) ignore these initial notices at their peril.
Can your condo association foreclose on your unit in Florida?
Yes. This is usually a last resort, but it is possible.
If the condo is foreclosed on during the lien can you be sued for the lien amount after the condo has been foreclosed on?
You are responsible for all debits to the Association and Mortgage holder until the unit is sold. If the unit is sold the New owner get to pay your bad debit, the mortgage company will hold you responsible for any difference between the sales price and what is owed.
Is an heir responsible for condo hoa fees after condo abandoned and estate closed?
The titled owner of a condominium is responsible to pay assessments for a condominium unit, regardless of how the titled owner ended up with the title to the real estate. The state and the association's governing documents may extend this debt to a personal obligation that is separate from the titled obligation.
