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I am inquiring about an issue with our local HOA. We are…

Customer Question
Greetings. I am inquiring...

Greetings. I am inquiring about an issue with our local HOA. We are part of a subdivision that is nearing completion (perhaps 6 months or so away), and up until then the builder is overseeing the HOA. The problem is the HOA is not responding to my repeated requests for financial statements, and I am afraid they are going to leave us in the lurch when the subdivision is completed and the HOA is turned over to us. What can be done? Are they not required to give us this information, in some detail?

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state the association is in?

Northwest Indiana

Lawyer's Assistant: Has any paperwork been filed?

No...I have simply emailed the person (s) in charge requesting the financial statements.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I can't think of anything else right now, thank you.

Submitted: 7 months ago.Category: Real Estate Law
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Answered in 1 day by:
12/12/2017
Real Estate Lawyer: Asad Rahman, Lawyer replied 7 months ago
Asad Rahman
Asad Rahman, Lawyer
Category: Real Estate Law
Satisfied Customers: 2,525
Experience: Practicing Attorney with 10 years experience
Verified

My suggestion is you have a letter send a request for records. The applicable statute is here...http://codes.findlaw.com/in/title-32-property/in-code-sect-32-25-5-3-3.html

by law they are required to give those records. If they fail to do so, then you can seek court intervention and have the records produced. Most judges should award attorney fees in such a scenario.

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Customer reply replied 7 months ago
Thank you for your reply, Mr. Rahman.
I do not see a required time frame for a response from the homeowner's association in the statue you refer to (which I already had a copy of). As I mentioned, I have requested them via email on a number of occasions, which apparently is in compliance to the statute on my part.
Also, as far as I know, there has never been a "meeting" for the HOA members to attend. Under the current circumstances the HOA seems to be run by the contractor, although there is a separate email address.
Would you be willing to write a brief letter? Or does that require additional fees?Thanks for responding,Donn Urban
Real Estate Lawyer: Asad Rahman, Lawyer replied 7 months ago

There is no fixed timeline but failure to respond gives rise to a breach of the statute. I'm not licensed in Indiana but any sort of demand letter would be an additional service fee.

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