March 1, 2024 – Federal Court rules that the Corporate Transparency Act is Unconstitutional: What does it mean for Community Associations? Read our updated blog article. The Corporate Transparency Act is a federal law that was enacted in 2021 to stop individuals in foreign countries from illegally moving money into the United States. The Corporate Transparency Act creates new reporting…
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Most condominium declarations will limit the ability of a unit owner’ ability to make changes to any structure, improvement, or any of the limited or general common elements within a condominium or common interest community association to preserve the aesthetics of the community. In many cases, deed restrictions will require the unit owner to obtain the express consent of an…
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As Illinois became the 11th state to legalize marijuana in June 2019, it greatly impacted a condominium association’s right to simply restrict the consumption of marijuana in the condominium building(s). Previously, associations could rely on bans on criminal behavior to assert that marijuana could not be consumed, but that does not appear to be a valid basis after June of…
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The Surfside condominium collapse led to significant reform in the condominium lending industry. In Lender Letter LL-2021-14, Fannie Mae and Freddie Mac implemented temporary lending guidelines in 2021 for condominium purchasers that desired to secure a mortgage as was previously discussed in Prepare your Condo for the new Fannie Mae and Freddie Mac Lending Requirements. At the request of FHFA,…
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Having quality access to cable television and internet has become nearly an absolute right to many homeowners, and the need for this service (especially the internet) was heightened during the COVID-19 pandemic when many more people started to work from home. Along those lines, a condominium association may be approached to provide an easement in favor of a cable television…
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Three of the most frequently asked questions by boards of condominiums and common interest communities are: (1) do all the unit owners get invited to every board meeting; (2) what constitutes an actual board meeting; and (3) can the board discuss items outside a formal board meeting setting. In this article, it is our goal to answer all three of…
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