What is the name of your state?
What is the name of your state? Massachusetts
My mother and I purchased a condo on 12/21/04 that has been renovated from a 3 family home built in the 1920's. There are 3 units. We live on the second floor. The first floor was sold on 08/30/04, the third floor will be sold on 05/20/05. The owner/developer of the condo is living in the third floor until the new owners move in.
The condo association was not set up when I moved in. The condo fee is $130/mo and it includes the condo insurance and monthly water bill. Is the developer required to start a fund for the assoc?
Since the new owners will be moving in on 5/20/05, we had a meeting regarding the association. Since we have not been paying the condo fee all along, it makes sense for all the owners to back pay from date of residence since the condo insurance (we were told it must be paid in full) needs to be renewed in August and that will leave us with some extra money left in the assoc. Do we have the right to ask the developer to back pay the condo fee as well? The owner on the first floor does not agree to back pay (I think due to lack of funds and that it is a completely renovated condo, what can possible go wrong). Yes it is a renovated building, but don't you still have to be prepared for projects that may come up? What are the legal terms to this. Isn't she required to back pay the condo fee? If not, how can we get the developer to back pay the condo fee if she doesn't? Won’t he be off the hook?
Will this create legal issues between us and the new owners on the third floor, since there's no funds in the association? What if an assessment comes up and they just moved in? How do you handle that?
So, if I want to back pay, I'm just better off setting up my own side account? What if an assessment comes up and one owner lacks the funds to complete the project? What action do we take then?
Thank you for your legal assistance and I look forward to hearing back from you soon!
Best regards,
gs7216
What is the name of your state? MassachusettsMy mother and I purchased a condo on 12/21/04 that has been renovated from a 3 family home built in the 1920's. There are 3 units. We live on the second floor. The first floor was sold on 08/30/04, the third floor will be sold on 05/20/05. The owner/developer of the condo is living in the third floor until the new owners move in.
The condo association was not set up when I moved in. The condo fee is $130/mo and it includes the condo insurance and monthly water bill. Is the developer required to start a fund for the assoc?
Since the new owners will be moving in on 5/20/05, we had a meeting regarding the association. Since we have not been paying the condo fee all along, it makes sense for all the owners to back pay from date of residence since the condo insurance (we were told it must be paid in full) needs to be renewed in August and that will leave us with some extra money left in the assoc. Do we have the right to ask the developer to back pay the condo fee as well? The owner on the first floor does not agree to back pay (I think due to lack of funds and that it is a completely renovated condo, what can possible go wrong). Yes it is a renovated building, but don't you still have to be prepared for projects that may come up? What are the legal terms to this. Isn't she required to back pay the condo fee? If not, how can we get the developer to back pay the condo fee if she doesn't? Won’t he be off the hook?
Will this create legal issues between us and the new owners on the third floor, since there's no funds in the association? What if an assessment comes up and they just moved in? How do you handle that?
So, if I want to back pay, I'm just better off setting up my own side account? What if an assessment comes up and one owner lacks the funds to complete the project? What action do we take then?
Thank you for your legal assistance and I look forward to hearing back from you soon!
Best regards,
gs7216