December 23, 2012 |
Question: I recently was elected to the board of directors of my homeowners association. I was surprised to learn that rather than conducting board meetings with an agenda and homeowner attendance and calling executive sessions, the board regularly makes decisions via email — not an Internet conference, but simply emails. The manager initiates emails to all board directors with an issue or question and requests a majority decision. As soon as she obtains one, she acts on it. It's unclear whether all directors even read all the emails.
September 23, 2012 |
Question: What happens if no one runs for the board and we can't get anyone to serve? Does the state take over? Who if anyone puts us in receivership? How do those actions affect all of us titleholders? Answer: Although common interest developments are state-created entities in law, the state has no interest in taking over their operations. There is no state agency that would initiate a "takeover" of a privately owned common interest development with a homeowners association. When there are no directors to serve on the board, there may be two alternatives.
September 9, 2012 |
Question: I own a town home in an association that has a couple of hundred unit owners. We have a current liability of more than $1.3 million but only $180,000 in the actual reserve account. At the last meeting, the board handed out an article stating that associations are not required to have reserve accounts. Board members used this as proof that we did not need to fund the association's existing reserve account or have a reserve. Our CC&Rs, however, state that we must have a reserve account.
September 8, 2012 |
A Kentucky doctor accused of shooting and killing one person and seriously injured another during a homeowners association meeting in Louisville pleaded not guilty Saturday. Mahmoud Hindi awalked into the meeting at a local church late Thursday and stayed for a short while before he pulled out a gun and began shooting, police said. Hindi tried to leave but was stopped by two people in the room, Louisville Metro Police Lt. Barry Wilkerson said at a news conference Friday, which was posted online by the Courier-Journal.
May 20, 2012 |
Question: There are five directors on our homeowners association board. If the vote on an item is two yes, two no and one abstention, what is the outcome: yes or no? Answer: Yes or no? Neither. The matter is unresolved because it did not receive a majority of votes. Tie votes prevent a board from taking any action on the motion. Glassman is an attorney specializing in corporate and business law. Vanitzian is an arbitrator and mediator. Send questions to P.O. Box 10490, Marina del Rey, CA 90295 or email firstname.lastname@example.org .
May 20, 2012 |
WASHINGTON — Thousands of condominium owners and buyers around the country could soon be in line for some welcome news on mortgage financing: Though officials are mum on specifics, the Federal Housing Administration is readying changes to its controversial condominium rules that have rendered large numbers of units ineligible for the agency's low-down-payment insured mortgages. The revisions could remove at least some of the obstacles that have dissuaded condominium homeowner association boards from seeking FHA approval or recertification of their buildings for FHA loans in the last 18 months.