To be organized as a condo there must exist condo documents, One of these documents is a set of bylaws and perhaps a set of rules. Do you have such???
You indicate you starteed to switch to a condo in 2008. Who sponsored this change??
You don't give enough info to permit an answer to your question.
I live in Washington state and have no knowledge of what your state law says and I am not an attorney. If there was a change in status from apartments to condominiums that should be recorded with the county in which you live and the newly established condominiums should have been established as a corporation which is also recorded. Those recorded documents will provide you with a great deal of information. You need to find those documents and read them to determine at what point the governance of your condo reverts from the original owner to the owners and how expenses are assessed to each unit among other things. I would suspect that most states require that condo owners have access to financial records. Find out where that is written in your state's law, determine who maintains the financial records (they are most likely the ones that you pay your monthly dues to and receive notices from), and then exercise your right to do so in order to make certain that the unsold units are paying their fair share of the fees.
Our community has created a very dysfunctional culture form its inception about 20 years ago and that has perpetuated itself through the years, so I would encourage you to work with your fellow owners and establish a culture of harmony, cooperation, and shared goals and objectives as you move forward.
I wish you the best of luck!
Your docs will outline the transition as will the state that you live in. The docs are not that hard to read if you take your time with them. Perhaps find an attorney that owns a unit and contact them for their assistance.
@ Initial inquirer:
You can send the question that you have here to the Department of Real Estate if you are in California. It must have a website in the Internet.
You can do the same in any other state if you know the correct name of the department. If not check the government page of the phone book.
The department that authorizes sale of condo normally requires the developer or conversion company to submit for approval a document which is can Declaration of Covenants, Conditions and Restrictions (CD&R).
You probably have received one and did not know what it is for?
Your contacting the other owners seems to be the best way to help one another.
how could you buy a condo and not get all the details about the conversion--the company you bought the condo would have your answers
i am so surprised you have not already contacted the other owners as i believe you can get many of your answers from them
as a condo owner under these circumstance, it would be wise to get legal advice from an attorney--what is your financial obligation if special assessments are necessary--would only the few condo owners need to pay
if you do not have a board of directors to govern, do you at least have a management company that can be contacted and ask why they are not maintaining the property
i have unsubscribed to this blog because all the complaints come owners who have not been responsible in getting the answers before they buy a unit---you would not buy a house before knowing all the facts and a condo is even more complicated
when i bought my condo i asked alot ofquestions --i read the documents and got informed about the florida statutes
these are necessary steps to protect your investment
I own a condo in a "converted" complex. The "Developer" owns all the unsold units. Chances are pretty good he can rent them. When a certain percentage of the units (it should be in the 60% range -- depends on your State) are sold by the Developer, then the Association takes over.
Once the Association takes over, the Developer is responsible to pay the fees for any units he owns or rents to the Association.
Until the sales reach a certain percentage, the Developer is responsible for all the costs.
However, if you own a unit, you are responsible to pay your agreed portion of the fees.
Your state condominium act will provide the answer to your question. Download a copy and read it.
Should I have cause to worry about buying a condo that's managed by a company owned by the developer who also owns a couple of adjacent apartment buildings whose tenants have access rights to common areas of the condo, including the exercise room?
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