Real Estate Law
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We are a 7 bldg condo duplex(14 unit owners) in Ortley Beach,NJ. We were destroyed by Superstorm Sandy. We voted to demolish and rebuild. We each have to put in an additional $20,000 because flood insurance was not enough.the board has explained exactly what is needed. We can not sign the builders contract until we can guarantee the money. 5 unit owners will not pay. A lien is not good enough so can we take them to court and sue?
Damien Bosco, you did not answer my question. How do we get their money? Do we sue them? Joann Messineo
Hi Joann: Sorry about that. Yes. The board would bring a legal action to have the unit owners abide by the vote (i.e., have the court order them to pay the special assessment). In these situations the board would use the basis of my first answer to develop the complaint in order to support the board's decision to take legal action. I hope this answers your question. If you need clarification, or have a follow up question, please let me know. Thank you, Damien
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