How to set up legal budget reserves
Q. The declaration for our condominium requires the board to build up and maintain a reasonable reserve for contingencies and replacements, and requires the reserve to be “segregated and allocated for specific purposes.” The budget for our association includes various general categories of reserve expenses, and describes a lump sum for each category. Is this sufficient? Read the Q&A………..
Were you holding your breath when Nik Wallenda walked the high wire over the Chicago river last weekend? So was
Q. One of our owners abandoned his unit three years ago. The board felt it would just be a matter
Q: We recently bought a condo unit on the top floor of a three-story building. The association provides cable TV