Fiduciary Responsibility

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Court Affirmed Dismissal Of Breach Of Fiduciary Duty Claims Against Condo Board Members

In Brown v. Hensley, a condominium complex was damaged by a hurricane, and the board of the complex allowed the complex to be demolished. No. 14-14-00981-CV, 2017 Tex. App. LEXIS 727 (Tex. App.—Houston [14th Dist.] January 26, 2017, no pet.

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Upholding Your Fiduciary Duty: Transparency is the Best Path for Boards

Being on the board of a co-op or condo is a big responsibility— one that shouldn’t be taken lightly. While some people may run for a board seat just to have the title, they need to be prepared to govern

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After the Palm ruling, how community association boards can comply

In the case of Palm vs. 2800 Lake Shore Drive Condominium Association, the Illinois Appellate Court interpreted several matters of fiduciary responsibility. These interpretations are inconsistent with long-standing board practices, causing widespread concern that more lawsuits could be coming.   Read

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The Call of Duty: The Importance of Fiduciary Responsibility

When electing board members to serve on behalf of your community, you expect them to be on their best behavior and to think of the needs of the building and the people who live there when making their decisions. Regardless

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What Does this Thing Called Fiduciary Duty Mean for HOA Board Members?

As a new or current HOA board member you may often hear terms that you’re unfamiliar with. It’s important to ask questions and stay educated when something is unclear, and nothing can be more convoluted than financial jargon.  From time

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“So What If You Don’t Fix It Right Now?”

As we know, a Condominium Association has many duties and obligations to fulfill including the collection of assessments, and the enforcement of the provision of the Condominium Documents.(1)  In addition, the Association also has another very important duty: the maintenance

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Fiduciary Duty: What Boards & Residesnts Should Know

Being elected to the board of directors of a co-op or condo comes with a great deal of power, and with that power also comes a great deal of responsibility. Whether they serve a co-op or condo community, board members,

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