Tag Archives: condominium law
The Massachusetts Insurance Reference Panel for home owner insurance policies was established to provide a fair and efficient alternative to the already backed-up court systems. The reference panel was created to ensure a quick yet just alternative to settle claim discrepancies between the insurer and insured. Lately, insurance company referees (as a proxy for… Finish Reading Insurance Reference Panel Trap, New Normal?
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
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