Advertisement
 
YOU ARE HERE: LAT HomeCollectionsTitleholders
IN THE NEWS

Titleholders

FEATURED ARTICLES
BUSINESS
April 28, 2013 | By Donie Vanitzian
Question: Even with an annual income of more than $2 million, our association is in a big mess. There's a several-million-dollar loan inclusive of our reserve account the association is paying off that has a variable interest rate currently at 6.85%. The association can't touch the reserves because the bank says it's garnisheed as collateral for the loan. The board says we have to pay this money back because the bank is holding our reserve account hostage. If it is borrowed and we can't touch this high-interest money, can the association just give it back?
ARTICLES BY DATE
BUSINESS
March 30, 2014 | By Donie Vanitzian
Question: I'm the president of our homeowner association mainly because no one else wants the job. We live in a prestigious area of Los Angeles and have fewer than 30 units. Because nobody wants to be on our board we hired a management company. They're not a California company. Their head office is out of state, and we've never seen or been to their California place of business and do not know where it is or that they even have a California office. A management representative came and picked up our files and documents, including owners' personal information and accounts, and gave us their P.O. box number.
Advertisement
BUSINESS
November 7, 2010 | By Stephen Glassman and Donie Vanitzian
Question: It is my understanding that homeowners associations are required to carry insurance coverage to protect the titleholders and those who serve on the board from liability for actions conducted by board directors in good faith during the ordinary course of business. I'm on my homeowners association's board and we do carry this insurance for the directors and our third-party property management company. One of our three directors believes we don't need this coverage since all the individual homeowners have their own liability insurance, and he has proposed dropping this coverage to save around $5,000 a year.
BUSINESS
March 2, 2014 | By Donie Vanitzian
Question: Is our homeowner association's board obligated to disclose legal actions to titleholders? Does the board have a duty to disclose the costs of legal fees incurred for such legal actions, or do we owners just sit back and wait to be slammed with several thousand dollars' worth of special assessments months or years later to cover those fees? Our pro forma annual report is sparse, so how can owners protect themselves from something like this? Answer: Owners should never sit back and wait to be slammed with assessments.
SPORTS
November 17, 2012 | Staff and wire reports
U.S. Women's Open champion Na Yeon Choi was steady after a careless three-putt bogey early in her third round Saturday at the Titleholders at Naples, Fla., and finished with a three-under 69 to take a one-shot lead into the final round of the LPGA Tour season. Ai Miyazato made four birdies on the back nine to salvage a 71 and end the day one stroke back. So Yeon Ryu, the LPGA rookie of the year shot 66 and was two behind. :: Spain's Miguel Angel Jimenez shot a two-under 68 for a share of the Hong Kong Open lead with New Zealand's Michael Campbell.
BUSINESS
December 1, 2013 | By Donie Vanitzian
Question: A majority of titleholders want to abandon our present homeowners association. Several thousand homes were to be built in our new subdivision, but fewer than 60 have been purchased. There were supposed to be five phases, but the builder stopped at phase one and won't finish the development. When we purchased our homes, we asked to see the association's governing documents, rules and covenants, conditions and restrictions; nothing made sense to us. Had we understood what a developer-controlled association meant, most of us would not have purchased our homes here.
BUSINESS
October 4, 2009 | Stephen Glassman and Donie Vanitzian
Question: A developer is suing both our master and maintenance associations for not allowing new development on vacant lots in our association. Since our monthly assessments are being used to pay legal fees for this lawsuit, does the board of directors have a fiduciary duty to notify the homeowners of the pending legal issues as well as the costs involved? As of this date, no notice has been given to the owners. I also believe that potential buyers should be given written notice of the current legal issues in case of a special assessment to pay settlements if the association does not prevail in court.
BUSINESS
August 23, 2013 | By Donie Vanitzian
Question: Looking to buy a home, we found a single-family residence only to learn it had a homeowners association, so we looked at condominiums. Each had different documents. With the HOA fees on top of our mortgage payments, the house and condo became unaffordable. We want to buy that house but don't want to be part of the association. Can we remove it from the HOA? We're not understanding the concept of these developments and associations. We're at a loss what to look for when buying property.
BUSINESS
May 6, 2012 | By Stephen Glassman and Donie Vanitzian
Question: My homeowner association board of directors keeps owners in the dark and treats its actions and duties as if they were secrets to be kept from owners. I keep asking my board for documents, and the directors act as if they don't know what I'm talking about. I'm losing patience with their game-playing in avoiding circulating very important documents. As an owner, what should I be asking for? Answer: As an owner in a common interest development you are entitled to obtain certain documents.
BUSINESS
March 2, 2014 | By Donie Vanitzian
Question: Is our homeowner association's board obligated to disclose legal actions to titleholders? Does the board have a duty to disclose the costs of legal fees incurred for such legal actions, or do we owners just sit back and wait to be slammed with several thousand dollars' worth of special assessments months or years later to cover those fees? Our pro forma annual report is sparse, so how can owners protect themselves from something like this? Answer: Owners should never sit back and wait to be slammed with assessments.
BUSINESS
February 16, 2014 | By Donie Vanitzian
Question: We have a detached single-family dwelling on more than five acres of land that we're having difficulty selling because real estate agents say we have a restriction on our title. We have a homeowners association and board of directors, and that appears to be a problem for some potential buyers. Though we've had little to do with our association, we can't convince buyers it's OK. They say they "don't want the hassle. " What exactly is a "restriction" and "deed restricted title?"
BUSINESS
February 9, 2014 | By Donie Vanitzian
Question: I've lived in my homeowner association nearly 20 years and still can't get the board to change my information for receiving notices of meetings to the proper address. They just keep ignoring me. I've called and left messages to no avail. What can I do to get them to recognize my calls? Answer: Beginning Jan. 1, titleholders were no longer able to orally request certain documents and/or other items from their association's board. The new Civil Code section 4035 details how documents must be delivered to an association for such requests to be effective.
BUSINESS
December 1, 2013 | By Donie Vanitzian
Question: A majority of titleholders want to abandon our present homeowners association. Several thousand homes were to be built in our new subdivision, but fewer than 60 have been purchased. There were supposed to be five phases, but the builder stopped at phase one and won't finish the development. When we purchased our homes, we asked to see the association's governing documents, rules and covenants, conditions and restrictions; nothing made sense to us. Had we understood what a developer-controlled association meant, most of us would not have purchased our homes here.
SPORTS
November 23, 2013 | Wire reports
Chicago Bulls point guard Derrick Rose is out indefinitely because of torn cartilage in his right knee that will require surgery, team officials said Saturday. The former NBA most valuable player had an MRI exam in Los Angeles on Saturday and was found to have a medial meniscus tear, which he suffered during a game at Portland on Friday. Rose sat out last season recovering from a torn anterior cruciate ligament in his left knee. The timetable for his return this season was not immediately clear.
BUSINESS
October 13, 2013 | By Donie Vanitzian
Question: I received notice for a homeowners association hearing, stating my 19-year-old son was cited for smoking marijuana in the association's parking lot with some other young people. No police were involved or called by security or management. My son denies the charge. He was cited by an association security guard who himself partakes in the drug culture. As owner of our unit, the "citation" went to me so I attended the hearing. I asked the security guard if he could identify my son and how he knew it was marijuana being smoked as there was no police report or lab tests.
BUSINESS
August 23, 2013 | By Donie Vanitzian
Question: Looking to buy a home, we found a single-family residence only to learn it had a homeowners association, so we looked at condominiums. Each had different documents. With the HOA fees on top of our mortgage payments, the house and condo became unaffordable. We want to buy that house but don't want to be part of the association. Can we remove it from the HOA? We're not understanding the concept of these developments and associations. We're at a loss what to look for when buying property.
BUSINESS
November 28, 2010 | By Stephen Glassman and Donie Vanitzian
Question: We live in a 12-unit common-interest development with a three-member board and have a management company. An employee of the company attends board meetings but the minutes don't reflect any "outside" person in attendance. We are not informed about board meetings in advance, and no notice of board meetings has been posted or circulated to owners this year. The current board bars owners from its meetings based on their interpretation of our 1987 bylaws. A letter from the president stated: "Nowhere do the bylaws indicate that the regular board meetings are open to all members of the association.
BUSINESS
October 17, 2010 | By Stephen Glassman and Donie Vanitzian
Question: I own one of the more than 130 units in my cooperative, which was recently sued in a personal injury suit. We won the case, but the court awarded only a little more than $4,000 of the more than $20,000 legal bill to our cooperative's association. I heard through the grapevine that the board is not telling owners these facts and is instead just going ahead and paying the bill. Can the board unilaterally do that or does it have an obligation to inform homeowners that we will be paying this?
BUSINESS
May 31, 2013 | By Donie Vanitzian
Question: Our homeowners association is hemorrhaging money at an alarming rate, and the president tells owners he moved all reserve money elsewhere to avoid a potential judicial judgment from attaching it. Under management's influence, he invested it all in an assessment recovery firm, claiming the association receives a very high return on our investment. He said management invests in the same firm. This firm has been unrelenting in its voracious targeting of titleholders utilizing liens, fees, penalties, interest, threats of foreclosure.
BUSINESS
April 28, 2013 | By Donie Vanitzian
Question: Even with an annual income of more than $2 million, our association is in a big mess. There's a several-million-dollar loan inclusive of our reserve account the association is paying off that has a variable interest rate currently at 6.85%. The association can't touch the reserves because the bank says it's garnisheed as collateral for the loan. The board says we have to pay this money back because the bank is holding our reserve account hostage. If it is borrowed and we can't touch this high-interest money, can the association just give it back?
Los Angeles Times Articles
|