---
title: Bank wants to transition condo building association to owners
description: We live in an 8 unit condo building that is owned by the bank due to the builder being foreclosed upon. The bank has been neglecting the property.
---

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# Bank wants to transition condo building association to owners

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## What do you think? Question:

We live in an 8 unit condo building that is owned by the bank due to the builder being foreclosed upon. The bank has been neglecting the property for three years. The small issues are: extremely limited grass cutting and refusal to make small repairs like siding. In the very near future, they will theoretically be passing this 'association' off to us, with $0 in reserve and a pile of small repairs. Are there grounds to sue this bank for non-performance and lack of reserve funding?

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## What do you think? Answers (9)

#### 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. *  
  

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### [Do we need a new bank account?](https://www.condoassociation.com/blog/do-we-need-a-new-bank-account)

### [Can HOA bank account have owner as signatory?](https://www.condoassociation.com/blog/can-hoa-bank-account-have-owner-as-signatory)

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