Real Estate Law
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I need the following information before I can answer your question:
Can you please tell me if this is an HOA or a Condo Association? (Different rules may apply).
How many owners are there, approximately?
Do you have CCR's, Articles of Incorporation, Bylaws, and perhaps any other additional rules?
I'll look forward to hearing from you,
Jane Doe Deer
Hi - sorry, need to know just a little bit more.
Can you look through your bylaws, and see if you can find a section that says who (the Board or the members) have the authority to raise assessments, and let me know?
Usually, in my experience, anyway, increases in assessments must be voted on by the members. It should say in your Bylaws.
PS: Condominium Law, for you to bookmark: http://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2200&ChapAct=765%26nbsp%3BILCS%26nbsp%3B605%2F&ChapterID=62&ChapterName=PROPERTY&ActName=Condominium+Property+Act.
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