Real Estate Law

Have real estate law questions? Ask a real estate lawyer.

Ask a Lawyer,
Get an Answer ASAP!

This answer was rated:

I HAVE A CONDO QUESTION. FLORIDA. 15 YEAR OLD CONDO. HOW…

I HAVE A CONDO...

I HAVE A CONDO QUESTION

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

FLORIDA

Lawyer's Assistant: Has anything been filed or reported?

15 YEAR OLD CONDO

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

HOW DOES THIS SITE WORK

Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 1 minute by:
1/11/2018
ChadCaros
Category: Real Estate Law
Satisfied Customers: 2,767
Verified

Welcome to JustAnswer!

My name is***** will assist you with your condo question today.

You are only charged if you are satisfied with the answer and accept the answer.

What is your specific question?

ChadCaros
Category: Real Estate Law
Satisfied Customers: 2,767
Verified
ChadCaros and 87 other Real Estate Law Specialists are ready to help you
Ask your own question now
Customer reply replied 7 months ago
specific question: our 15 year old condo association has deliberately underfunded reserves in order to keep our monthly fees low... using special assessments as a method of putting $ in the kitty when required. we recently underwent a reserve study (our first) that suggested we should have $120K more allocated for reserves then we currently have. One owner wants us to do a "pro rated" assessment based on the length of condo ownership.....his thought is that the old owners enjoyed a "artificially lower monthly condo fee for years and now the new owners are being required to fund reserves that should have been funded at a higher rate years ago. The question is, is this legal, proper, nonsense,????
thank you
Phone call session started
Scholar of Tax
Category: Real Estate Law
Satisfied Customers: 1,458
Verified

Dear Customer,

The counter argument is that the new owners when they purchased the unit from the old owners, their purchase price is lower by that much because the seller did not need to pay or recover that much of assessment they paid.

Check with the condo association rules and regulations to see any previous rules on items like this. This is a capitalism society, as long as your association makes the rule and everyone agrees, it goes.

However, your association to avoid future lawsuits from individual owners should consult with an attorney. I would think the fare way is to give the money from now on with all the current owners regardless how long everyone has been there.

Regards,

Fiona Chen, MPA, Ph.D., CPA, ABV, CFF, CITP, IMTA

Ask Your Own Real Estate Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a real estate lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask ChadCaros Your Own Question
ChadCaros
ChadCaros
ChadCaros
Category: Real Estate Law
Satisfied Customers: 2,767
2,767 Satisfied Customers

ChadCaros is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Barrister

Barrister

Lawyer

12,142 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

8,377 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

8,253 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,208 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,998 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

P. Simmons

P. Simmons

Lawyer

3,572 satisfied customers

12+ yrs. of experience including real estate law.

< Previous | Next >

Related Real Estate Law Questions
Can an 87 year old cancer patient who has continually paid
can an 87 year old cancer patient who has continually paid ret on time be evicted because the owner wants to move in to the condo unit? … read more
Christopher B, Esq.
Christopher B, Esq.
Attorney
Juris Doctor
2,216 satisfied customers
We own a condo in Florida that we rent out. The hot water
We own a condo in Florida that we rent out. The hot water heater burst and caused damage to apartments below us. Our maintenance company, Pride Air Conditioning & Appliances sends us statements each y… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I went from a resident to owner at my condo. They had me
I went from a resident to owner at my condo. They had me sign that I would not sue the association,or management. I didn't initial that part of the document. They are corrupt and the association upgra… read more
Attyadvisor
Attyadvisor
Doctoral Degree
8,356 satisfied customers
Condo on top floor, next door rat caught. I was not told.
condo on top floor, next door rat caught. I was not told. … read more
Attyadvisor
Attyadvisor
Doctoral Degree
8,356 satisfied customers
How do I look up bilaws of a condo association on-line?
How do I look up bilaws of a condo association on-line? … read more
Marsha411JD
Marsha411JD
Doctoral Degree
20,654 satisfied customers
My seven year old granddaughter was placed with me more than
My seven year old granddaughter was placed with me more than a year ago by the state because of drug use on her mothers fault and abuse. I was up front with the condo association and told them since t… read more
Roger
Roger
Litigation Attorney
Doctoral Degree
26,939 satisfied customers
Does a Florida Condominium Association have to concern
Does a Florida Condominium Association have to concern itself with any other statute than F.S. 718? There is a legislative push right now to create an exemption for HOA's from the MRTA (see below for … read more
Ely
Ely
Counselor at Law
Juris Doctor
4,998 satisfied customers
TY answer, now to my last question. Other than contacting
TY for the answer, now A follow up to my last question. Other than contacting the Real Estate Commission to file a complaint, what other options are there to ensure the owner/broker does not pull this… read more
socrateaser
socrateaser
1,031 satisfied customers
I live in a Florida condo that states in the covenant and
Hi I live in a Florida condo that states in the covenant and bylaws that the sale of a unit can not be titled to a corporation. we have an owner on site who is also a real estate broker and handles 70… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
good morning. i am in the process of opening an LLC in Florida and tra
good morning. i am in the process of opening an LLC in Florida and transfer my condo (99,000$ purchase price in 2008) to the LLC. The LLC will have 2 members: myself with 99% of the interest and anoth… read more
Alex Esquire
Alex Esquire
Managing Attorney
Doctoral Degree
153 satisfied customers
How rentals work? A condo. Maintenance fee and taxes paid by
How rentals work? A condo. Maintenance fee and taxes paid by Landlord. Short-term Rental is subject to Florida sales and Volusia County bed tax. The agent rents a condo for $1,650.00. 15% is agent's f… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
My mother passed away 6 mos ago and my nephew was living with
My mother passed away 6 mos ago and my nephew was living with her at the time with his 6 year old grandaughter. He was not paying rent, only occasionally paying the Association dues of $289.00 per mon… read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
Have a condo in Florida in a life estate where four siblings
Have a condo in Florida in a life estate where four siblings are on the deed. Father died 2 plus years ago. One of the life estate members for lack of a better word, refuses to pay her share of the ta… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
I have a sale date of December 2nd. How long will I have before
I have a sale date of December 2nd. How long will I have before I have to vacate? The condo is where my 84 year old mother lives with a broken hip and I want to be able to schedule the move and raise … read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
These questions will concern several areas. 1. Laws regardin
These questions will concern several areas. 1. Laws regarding Joint ownership with survivorship in Florida. 2. Division of real estate and property 3. Responsibility for expenses 4. Timelines and verb… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
8,377 satisfied customers
Where can I find a Florida law concerning the number and length
Where can I find a Florida law concerning the number and length of Condo leases by the condo owners before the Condo Association is no longer a Condo Association? I am sure there is some Florida law o… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
20,508 satisfied customers
Im resident of NYC but I have a condo in Miami. I renting
I'm resident of NYC but I have a condo in Miami. I renting it to the lady. Her Lease is expired but she doesn't moving out and she doesn't want to extend the lease. She is claimimg that State of Flori… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
We were closing on a condo, ST Croix Ln, Naples, Fl--everything
We were closing on a condo, ST Croix Ln, Naples, Fl--everything was a go until the underwriter denied us because the condo has a 30% delinquent condo fees--it should be 15%--this is due to all the sho… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x