Tag Archives: owners

CONDOMINIUM INSURANCE – WHO COVERS WHAT?

Most condominium association’s “Declaration of the Condominium” (hereinafter referred to as declaration) follow the wording of Chapter 47C of the North Carolina Condominium Act with regard to the definitions of “common elements” and “units”.  The Declaration specifies what insurance is to be provided by the association and what insurance is to be provided by the unit owners.In the statute, 47C-2-102, Unit boundaries it says: “Except as provided by the declaration:

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Why Do I Have To Pay For A Resale Package?

Why Do I Have To Pay For A Resale Package?

We have many homeowners who think that because they pay assessments every month they should not have to pay for a resale package. They are of the opinion that it is a bunch of pages all put together that just sits and waits for us to “push the button” when they place their order.

I would like to clarify why it is essential that management companies prepare these documents individually for each owner. First, it is a legal document required by law in many states as it protects the buyer from purchasing into a community association without first obtaining “full disclosure”. It contains a disclosure statement that includes the legal or pending legal status of litigation involving the association. It contains up-to-the-minute information about the assessments owed, outstanding special assessments and even pending assessments as required in many states. It provides the association’s financial status and any outstanding loans owed by the association. It also provides any covenants restrictions or violations on the unit. All of these questions are answered and are entered in real time by a staff member when the order is placed. The document is not static; it requires keen oversight as the questions are researched and completed.

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Because I Said So, That’s Why!

For those of you who have served, or currently serve on a board of directors or an architectural review committee, have you ever felt like the evil parent telling your child “no”? No matter how you put it, the child continues to argue that he/she should be able to carry out the “forbidden” activity, until everything comes to a head and the child is sent off to his/her room.

Unfortunately, when it comes to the architectural review process for associations, resolution of a dispute is not as easy as putting your foot down and sending an owner to his/her room. To the contrary, the architectural process is closely scrutinized by courts and owners in the communities.  Therefore, before denying (or approving) a request, it is imperative that the architectural review committee dot its i’s and cross its t’s.

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