by Editor | July 5, 2017 4:09 pm
Q: I am a unit owner in a condominium association and the common elements of my association are in dire need of significant repairs and replacements — to the tune of millions of dollars. If the condominium board adopts a special assessment to pay for the amount of necessary repairs and replacements, it could equal half or more of the value of my unit. Even with a loan procured by the condominium association for the benefit of unit owners, the monthly loan repayment costs plus regular assessments will be incredibly financially burdensome. Read the Q&A……………
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