$20K Condo Assessment...Legal?

[dkuip]

What is the name of your state?What is the name of your state? South Carolina

I bought a condo 1 year ago (amount <$200K). This summer, the condo association/ management company assessed each owner $20,000 for general building repairs. This assessment is the first in ~10 years. Isn't the association required to maintain an appropriate capital budget? Do I have any legal grounds for the association mismanaging the capital budget?

 

[HomeGuru]

What is the name of your state?What is the name of your state? South Carolina

I bought a condo 1 year ago (amount <$200K). This summer, the condo association/ management company assessed each owner $20,000 for general building repairs. This assessment is the first in ~10 years. Isn't the association required to maintain an appropriate capital budget?

**A: hello? There is no capital funds. The reserve fund is depleted.
Anyone can have a buget but the HOA needs real money to work with.
********

Do I have any legal grounds for the association mismanaging the capital budget?

**A: did anyone steal and $$$$$ or apply reserve funds to take a gambling trip to Atlanta?