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Developer

  • Creating community: from developers to community associations If you are looking for a newly built home in San Diego County, the odds are that home will be in a community association.  When done right, community associations provide an immediate sense of community for new homeowners.Community associations are typically found in condominiums or planned developments where the homeowners share common amenities such as pools, clubhouses, parks and playgrounds. According to a 2016 study by the Community Associations Institute, there are approximately 45,400 community associations in California, with an estimated 9.16 million residents.     Read the article……………..
  • Developers Say Boards Are Using Access Agreements as “Ransom” (NY) In a landmark court ruling last year, co-op and condo boards won the right to demand license fees, plus attorney and architect fees, when granting access to their buildings to developers at neighboring properties. That legal ruling has introduced a new edge to access agreement negotiations, Crains reports, with building owners demanding higher payments and developers responding by taking them to court at a increasing rate.   Read the article……………..
  • Condo owners may need to take legal action against developer who refuses to sell new units We bought into a condo development five years ago. The condo documents said the declarant didn’t have to follow the condo rules or pay dues on his units until the last unit was sold.  We didn’t worry because the declarant control had expired and the developer was paying a reduced agreed amount each month for upkeep. We figured it would all shake out once all units were sold.     Read the article…………..
  • Recent Decision Limits Liability of Condo Sponsor’s Principal (NY) On May 24, 2017, a New York appeals court dismissed construction defect claims against a condominium sponsor’s managing members and principals. The plaintiff Board of Managers sought to hold these individual defendants personally liable for the corporate sponsor’s breach of contract. But in Board of Managers of 125 North 10th Condominium v. 125North10, 150 A.D.3d 1065 (2d Dept. 2017), the court extended to a sponsor’s principals and members the rule which precludes claims against sponsors based on their alleged violations of the offering plan, merely by reason of those individuals’ certification of the offering plan in accordance with the requirements of the Martin Act.  Read the article……………

Developer Article Archives

Transition

  • A Checklist for Associations Transitioning From Developer Control (Pt 2) (DC) This article is a continuation of “Declarant Transition – Part I,” an overview of the laws governing the declarant transition process for unit owners’ associations in the District of Columbia. Part II, below, sets forth a transition checklist that should be addressed by the initial, unit owner-elected board once it assumes control of the association from the declarant.    Read the article……………
  • Developer Transition: MD Condos and HOAs – Part 2 This article is a continuation of “Developer Transition – Part I,” an overview of laws governing the developer transition process for condominium and homeowners associations in Maryland. Part II, below, is a transition checklist that should be addressed by the initial, homeowner-controlled board once it assumes control over the association from the developer.     Read the article…………….
  • Developer Transition: MD Condos and HOAs – Part 1 This is a two-part article dealing with “developer transition,” the process by which the governance of a condominium or homeowners association is transferred from developer to unit owner or lot owner control. Part I, below, is an overview of the legal requirements that govern the transition process. Part II will contain a “transition checklist” for transitioning owner-controlled boards of directors.     Read the article…………….
  • An HOA Checklist for Effective Developer Turnover Real estate is booming again, and new communities have been springing up all over the Atlanta area. As the final homes or condos are sold in each community, the developer turns the HOA or community association over to the owners. If your community is almost sold out, are you prepared to take financial control? Keep reading for some valuable tips.    Read the article……………

Transition Article Archives

 

Buying/Selling

  • New owners are liable for past-due assessments (FL) Question: Our HOA recently discovered that two houses in our development had closings without receiving estoppels. An attorney handling one closing emailed a request for an estoppel. Our request form was emailed back, along with instructions on how to deliver a check for $125. A realtor delivered the form and request, but before the envelope was opened, the realtor called to say there had been a “hiccup” preventing the closing, so he returned to pick up the envelope. An estoppel was never completed.     Read the Q&A…………..
  • What to Do When Your HOA Oversteps Its Bounds A Home Owners Association (HOA) sets many rules and restrictions for homeowners. Regulations usually deal with architectural or landscaping restrictions or how many pets you own. But can the HOA choose who buys a home? The answer to that question depends on certain factors.    Read the article……………
  • How to Get the Most Value From Your HOA The goal of living in an area with community association management in place is to maintain high property values and make sure that your community is an enjoyable place to live. Don’t take your homeowners association for granted. Your HOA is a non-profit mutual benefit corporation that establishes guidelines to promote property value increases over time.  By understanding what your HOA does and the role they play on your behalf, you can better understand the value you receive from living in an association. Here’s how to get the most out of being a member of an HOA.    Read the article……………
  • Buying a Home in a Community Association: Part Two – Evaluating an HOA’s Health So your diligent search for that home of your dreams has finally led you to one that fits all your criteria. However, it is in an association, and you have known people who belonged to condo or homeowners associations (HOAs) that were poorly run or financially mismanaged. You love the home, but you don’t know much about the association. Should you buy it anyway and hope for the best? Or is there a way to determine if your future community is well run and economically sound?    Read the article………….
  • Real Estate Claims of “Strong Reserves” – Be Careful! But one trend that continues to surprise me is how often claims of “excellent condo association reserves” and “strong association reserves” appear in our weekly monitoring reports. By following the links, I discover that these phrases on condo listings from major real estate marketing sites including Redfin, Trulia, and Zillow. This raises many questions in my mind: What is the basis of such claims?   Read the article…………..

Buying & Selling in a Community Association Archives