<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1061566567187268&amp;ev=PageView&amp;noscript=1">
Skip to content

Should new owners pay for association repairs prior to purchase?


Question:

A hurricane hit Marco Island in 2016.  After all the different insurance companies paid their share in our condo property, the HOA board realized they are $400,000 short.  I bought the condo in the fall of 2018. There is nothing in the by-laws of the HOA or the sellers sales settlement agreement of a possibility of a future special assessment.  Are new owners responsible to pay a special assessment for old damage (2016) to the property prior to the condo purchase (2018) ?


Answers (14)

What are your thoughts on this topic?

Comments and postings are not legal advice, but are the opinions of our readers. This forum and its contents are being monitored. Please be respectful of each other.