Real Estate Law
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Please clarify what you mean by getting "...out of this mess without losing my shirt.......... "
In terms of the HOA ? In terms of selling ?
The botXXXXX XXXXXne is the place needs to be maintained. I can't sell my condo if the surrounding condos are in a state of disrepair and I don't want to continue to live here if it is in a state of disrepair. What recourse do we have to get the HOA to own up to their responsibilities of maintaining the property when they have no money?
Thank you for your clarification, Sam,
The HOA is charged with the responsibility of levying assessments in order to maintain the properties within the community and to maintain their values. The HOA also has the authority to place a lien on the properties whose owners have not paid their assessment. The HOA can then foreclose on the lien and take the property. The By-Laws govern how long the HOA has to wait before it forecloses on such liens, but it is usually a relatively short period of time. This is the HOA's recourse against property owners who do not pay their assessment.
If the HOA refuses to foreclose on these liens, you and the rest of the property owners who have been acting responsibly and paying the assessment can file a lawsuit against the HOA, asking the Judge to Order the HOA to perform its responsibilities so that your property values do not continue to decrease because of the homeowners who do not pay their assessment,
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It seems then that I am up a creek then since my HOA has no money to pursue legal action against anyone.
Not really, Sam, You said that several of the homeowners do not pay their assessment "...This leaves the rest to carry the burden.......... "
There are members who pay, like you do. You should get together with them because you all have a common interest, i.e., to maintain the value of your properties. This way, you will not be fighting the fight alone and you can share in the legal fees which should not be very much to simply bring something before a Judge for an Order against the HOA,
Something else which you may want to consider - If a majority of the members are paying their assessments, you can call a Special Meeting to remove the present Board if they are not protecting the interests of the homeowners and elect a new Board.
If you and the other homeowners want to remove the Board, you may do so by holding a Special Meeting.
You would give all the homeowners notice of the Special Meeting which would include all of the following:
1. Date, time, and location of the Special Meeting
2. Purpose of the Special Meeting (To remove Board and hold elections for new Board)
3. Agenda - Removal of Board and election of new Board (In these situations, the only issues which can be discussed at a Special Meeting is the issues listed on the Agenda which is enclosed with the Notice of Special Meeting)
4. In paragraph form, the exact language which will be presented to the homeowners for their vote,
The By-Laws will tell you how much advance notice must be given for a Special Meeting and how many members must attend in order to constitute a quorum. You must check your By-Laws because this is not set by law, but rather, by the By-Laws for each specific HOA,
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