Can a condo board charge owners a resale capital contribution for resales?

Q. I am on the board in my condominium association, and we have heard of other communities charging a resale capital contribution for resales. This seems to be a great way of generating additional revenue to supplement assessments and prevent increases in assessments. Can our board of directors pass a resolution to implement such an assessment?   Read the article…………..


Related Articles

Holdout homeowners fight Tampa HOA (FL)

Imagine paying Homeowners’ Association dues for years, along with fines, only to find out your property isn’t legally a part

Impact of reverse mortgages on associations is minimal

Q: I serve on the board of my condominium association and one of the issues we have been hearing a

How can we check whether expenditures are proper?

Q: I live in a developer-controlled homeowner association. I’ve noted on the financial reports certain expenses that I cannot confirm.