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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As Illinois’ First District Appellate Court recently stated, “[c]ondominiums are creatures of statute and, thus, any action taken on behalf of the condominium must be authorized by statute.” Glazer v. Priv. Residences at Ontario Place Condo. Ass'n, 2022 IL App (1st) 210156, ¶ 22. Along those lines, “[t]he affairs of condominium associations are controlled by the Condominium Property Act,” and…
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