How to Amend Your Illinois Condo Documents There are many reasons why a condominium association may decide to amend its declaration or other governing instruments. For example, if the condominium association was recently transitioned to the unit owners from the developer, then an amendment may be to utilized to make sure that all of the protections for the association are…
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One of the responsibilities of a board of directors or a board of managers in any homeowner’s association is to set the amount of regular assessments for the members. This is typically done by way of a budget that is decided upon by the board in advance of the upcoming year. However, each association may have different rules as it…
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When buying into a condominium in Illinois, one thing that should be reviewed is whether the condo association where the unit is being purchased is part of a “master” or “umbrella” association. Master associations are a statutory creature whereby multiple condos are run by one entity or where certain aspects of multiple condos are run by one entity. The concept…
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Anyone who has ever purchased or sold a condo in Illinois understands that there are certain disclosures about the condominium and the condominium association that must be made by the seller. Section 22.1 of the Illinois Condominium Property Act outlines the manner in which these disclosures are to be made. Importantly, these disclosures are a supplement to, and not in…
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The Board of Managers for a condo association has many roles and responsibilities, including everything from collecting assessments to maintaining common elements throughout the condominium. One of those roles, and the one that can create the most conflict with condo unit owners, is the enforcement of the provisions in the Condo’s governing instruments, including its bylaws and rules and regulations.…
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Unexpected things happen in our daily lives, and sometimes those things happen in our home. It is great, if possible, to save monies for a “rainy day” so that one major issue, or a series of issues, does not drain your resources. The same analysis applies in a condo association or common interest community. Having funds set aside for major…
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