Insurance policy language generally insures only what the condominium documents provide, not what state laws require. Having insufficient insurance can cost associations LOTS.
Insufficient Insurance Costs Association LOTS!!! Read More »
Issue: If your association was destroyed by fire or some other hazard, and it did not make sense to rebuild, how would the funds be divided? Problem. Odds are that you don’t know the answer. The fact that you don’t know should scare you. Is every unit in your association worth the same amount? I
Facts In 2014, Kato purchased a unit at an association, thereby becoming a member of the association. Kato also joined the board and became its President/Treasurer. Later that year, Kato’s unit, and two other units in the association were destroyed by fire. The association collected the insurance proceeds from the loss, but decided not to
Former Association Member Can’t Sue for Breach of Fiduciary Duty Read More »
