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Where does new owner find condo association trust documents?

Posted on Sat, May 14, 2011 @ 07:49 AM
  
  
  
  
  
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I recently purchased a condo in a 6-unit building. My brother was the former condo association manager, and I bought the unit from him, so I am taking over as the manager. We went to the bank to change the owner of the association account and they said we needed condo trust documents or some documentation that I was taking over. They hadn't asked my brother for this when he took on the job, so we're not sure what to provide. Does anyone have a template or know what needs to be included? Can it be a simple letter? the association is pretty laid-back (i.e. lazy) about documenting these kinds of things. Thanks!
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IF Massachusetts, call me at 781.843.5000 and we can help you for free. The condominium trust is recorded at the Registry of Deeds-our office can get a copy for you. We can also prepare an election certificate and acceptance. 
 
 
 
Stephen Marcus 
 
Marcus Errico Emmer & Brooks 
 
Braintree, Massachusetts 
 
781.843.5000 
 
smarcus@meeb.com 
 
www.meeb.com 
 
Posted @ Saturday, May 14, 2011 8:06 AM by Stephen Marcus
I would be surprised that just because you bought the unit from your brother, who was the condo assn mgr, you now are the mgr. The mgr should be hired by the board.  
A letter from the board secretary verifying you have been hired as the assn mgr and are to have access to the bank accounts should suffice to have your name put on the bank account. However, a board member's name should also be on the account.
Posted @ Saturday, May 14, 2011 8:35 AM by mary
Agree that buying unit from former manager does not make one the new manager-board must appoint. On account, I would be surprised in Massachusetts if they would accept letter from the Secretary-they typically want to see official certificate of election as board member as recorded at Registry of Deeds. I'm guessing documents might say that each of the 6 unit owners appoints a board member-that is typical for very small condominium associations in Massachusetts. 
 
 
 
Stephen Marcus
Posted @ Saturday, May 14, 2011 8:39 AM by Stephen Marcus
Only the board members who are designated to sign checks should have access to the bank account. The condo manager should never ne assigned this task. The manager is an employee of the board and as such is not responsible for signing checks./
Posted @ Saturday, May 14, 2011 8:40 AM by Scott
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