HOA Loan and Insurance Quotes

Subscribe to Blog

Your email:

Follow Us

Looking for answers?

condo association blogCan't find the answer you're looking for?  Ask your question here and we'll post it in our blog.

Browse by Topic

Condo Association Management Blog

Current Articles | RSS Feed RSS Feed

Developer not turning condo association over to members

Posted on Fri, May 28, 2010 @ 06:26 AM
Our condo association declaration states that 3 years after the first property is sold or 75% of the total property is sold, the land company (developer) is to turn the condo association over to the owners. We are in our 4th year, and the original land company has been sold. The 2nd company has since relinquished 7 remaining properties back over to the bank. The person left in charge is also an owner of a piece of property here but is dragging his feet turning the association over to us. My question is what remedies are there to expedite the transition to us as owners? BZEYV63N6ATP



I would immediately get an attorney involved. It's illegal what the developer is doing. A lot of times the reason for the delay is the commingling of association funds or major physical defects in what the developer has built. If you don't have a property management company, I would recommend calling a few to see if they can help. Some don't want to get involved in the developer transition so keep calling until you find one that does. Where is your association located?

posted @ Friday, May 28, 2010 8:32 AM by Michael

Post Comment
Website (optional)

Allowed tags: <a> link, <b> bold, <i> italics