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MIAMILAW1127, Lawyer
Category: Real Estate Law
Satisfied Customers: 755
Experience:  Founding Partner at Moises Law, P.A.
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I purchased a condo in a coop in June of 2014. I received a

Customer Question

I purchased a condo in a coop in June of 2014. I received a notice last week of a special assessment meeting to levy funds for a civil lawsuit filed against the Board of Directors. The amount spent to date is 84+ thousand incurred since April of 2013. The seller's disclosure statement checked no condition or claim which may result in an increase in assessments or fees. Am I liable for this added assessment or further assessments concerning this matter?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  MIAMILAW1127 replied 1 year ago.

Hello. Thank you for contacting me. I am a consultant here and I am looking forward to assisting you with your question. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Please be patient as I will be typing my responses to you from scratch. Also, I can only answer/address the questions you ask specifically based on the information your provide. Please try to provide as much information as possible so I can best assist you.

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Was there a special assessment in place prior to your purchase of the condo?

Customer: replied 1 year ago.
Only the required quarterly assessment. Nothing was mentioned about the lawsuit.
Expert:  MIAMILAW1127 replied 1 year ago.

Then it seems like there was no special assessment for the lawsuit that the Seller knew of at the time to have had to disclose. It looks like the special assessment is being voted on now.

That being said, you would be liable for this new special assessment unless you can prove that the seller failed to disclose something that they should have. In that case, you would technically still be on the hook for the special assessment, but you would have a cause of action against the seller for failing to disclose it.

Expert:  MIAMILAW1127 replied 1 year ago.

I hope this helps. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Thank you.

Customer: replied 1 year ago.
It just seems very strange to me that the seller, who has another condo here as well and has had for quite some time; who is also very thick with the board, would not be aware of a lawsuit that was in process over a year before I bought this condo. I would never have purchased if I had known as I have seen this sort of thing happen to a very good friend of mine in her complex.
Expert:  MIAMILAW1127 replied 1 year ago.

If you believe that the Seller knew, then you can always sue them.

Expert:  MIAMILAW1127 replied 1 year ago.

Is there anything else I can help you with?

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