![]() ![]() Section 5: OPA Board Subject: ARC/ECC Nonsense Msg# 1231316
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Joe:
Yes, anything known to the management company that’s outside of the existing budget, but pending, is a required disclosure. A good example of a recent problem is the new required reserve studies. Should the reserve study be recommending a large out of the ordinary increase in dues or a special assessment it should be disclosed. Marty |
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For reference, the above message is a reply to a message where: That said the Association or management company is responsible under Homeowner association act, 11-B, 106 I think, for providing the seller a certificate that states at least any unpaid assessments, any planned increase in the budget and any unresolved violations. And lawsuits against Association? |