Courts Say Condo Boards Can’t Levy “Confiscatory” Penalties
The bylaws of many condominiums authorize the board of managers to impose fines for violations of the rules and regulations, and also authorize the collection of late fees for failure to pay the common charges on time. However, recent court cases have set limits on the amount of these fines and late fees, even refusing to enforce such a penalty if it is “confiscatory in nature.” Read the article……….
The National Flood Insurance Reform Act of 1994 (NFIRA) mandated that all homes receiving a federally backed mortgage loan must
This is the first part of two posts that address annual meeting participation. This week we will focus on advance
Condominium associations should seek professional help before signing on the dotted line of an unfamiliar contract. Signing too quickly may