Category Archives: Condominium Law
Three Shocking Pitfalls for Condominium Developers
In Massachusetts the appeal of condominium ownership continues to grow. Both the Warren Group and the Massachusetts Association of Realtors reported that in March of 2018 the median sale price of a condo was significantly greater than that of a house. This median sale price has grown 16 to 20 percent compared to a… Finish Reading Three Shocking Pitfalls for Condominium Developers
Condo Unit Owner Takes It On The Chin
Another Massachusetts court case decided 1/7/2016 reveals just how difficult it is for unit owners to take action against a condominium trust / condominium association. This unit owner won an arbitration and was awarded attorneys’ fees and costs by an arbitrator. But the Massachusetts Superior Court gave that award the boot, and this past… Finish Reading Condo Unit Owner Takes It On The Chin
5 Things Every Condo Buyer Should Beware BEFORE Buying!
These days, young professionals often opt for {condo,condominium} living. {Condos,condominiums} can be a great option for those who want city living but cant afford a large single family house near the city. The process of buying a {condo,condominium} can be long and strenuous even if all things go well. It can also be euphoric. But the… Finish Reading 5 Things Every Condo Buyer Should Beware BEFORE Buying!
Insurance Companies Should Review & Require Revision of Condominium Documents Prior to Policy Issuance
Condominium documents have become so restrictive of unit owner conduct and overly punitive for non-compliance. Punitive fines can be as high as $1000 for merely moving boxes or a piece of furniture out of a unit without prior approval. Massachusetts case has supported Condo Boards, reinforcing and perpetuating the erosion of unit owner sovereignty over their unit. The result: litigation. Litigation that insurance companies pay for and which can increase the risk of loss to mortgage companies that lend to unit owners. Insurance and mortgage companies should consider reviewing condominium documents for overly restrictive or punitive provisions prior to insuring condo boards or lending to buyers. Finish Reading Insurance Companies Should Review & Require Revision of Condominium Documents Prior to Policy Issuance
A Condo Unit Owner Has Not Paid Condo Fees in Months, What Can I Do Now?
Condos Are Subject to M.G.L. ch.183A Every {Condominium, Condo} is subject to a specific statute in Massachusetts titled Massachusetts General Laws Chapter 183A (“MGL c.183A”). {Condominiums, Condos} are special entities and have legal independence, but are distinct from a non-profit entity or a corporation. {Condominium, Condo} are established as “Trusts” with Beneficiaries and at… Finish Reading A Condo Unit Owner Has Not Paid Condo Fees in Months, What Can I Do Now?
