Sentences with phrase «special assessment»

Watch out for special assessments for capital repairs and improvements to common areas.

How do the unit owner know if there is money left over from special assessment.

You do nt want to get hit with special assessments, they can be a deal killer on cash flow.

You will be responsible for the purchase price, as well as annual maintenance fees or special assessment fees, should they arise.

For example, special assessment condo insurance might cover cost of damages from a fire in the lobby if it exceeds the money your association has available for repairs.

We'll track down the association (s) and request a letter that outlines the property's financial standing, including past due balances, current fees, and all future special assessments.

Loss assessment insurance, also called special assessment coverage, is an optional coverage that you can add to a condo insurance policy.

Loss assessment insurance, also called special assessment coverage, is an optional coverage that you can add to a condo insurance policy.

(b) set special assessments to be paid by lawyers and applicants for the purposes of the society and set the date by which they must be paid.

Basic condo insurance does not typically cover special assessments.

There is no common roof with the neighbors, so no worries about special assessment surprises for repairs.

Making property and business owners pay even more special assessments for these types of marketing efforts would be redundant.

Provides coverage for special assessments due to insured damage to or liability arising out of common areas caused by a shortfall in the corporation policy.

Topics included collecting common expense contributions, dealing with unit owners who are in financial difficulty, special assessments during difficult times and negotiating service contracts.

Next deficit budget hike fees as one - yr special assessment — the place will be packed!

The particular cost of monthly fees and the rules regarding special assessments vary from association to association.

Ask if special inspections have revealed problems with roofs or plumbing that may cause a dues hike or special assessment later on.

When the building's association doesn't have enough money to pay its bills, they need to raise additional funds by either increasing monthly assessments or leveling special assessments.

During flat or sideways moving real estate markets these minor ongoing special assessments can often discourage new buyers from finding value with these types of units.

For example, special assessment condo insurance might cover cost of damages from a fire in the lobby if it exceeds the money your association has available for repairs.

If you itemize your deductions on your federal income tax return, you can deduct the amount of property taxes you pay, but you can't deduct the cost of special assessments.

Many buyers encounter problems post-contract with issues like legal title to parking stalls, or are surprised by special assessments levied because the minutes of the condominium board weren't reviewed prior to purchase.

The underwriter for your owner's title insurance policy will make sure that one of their agents orders a lien search of municipal records to show that all water, sewer, gas and other municipal utility bills are paid as well as to determine if there are any outstanding special assessments in order to remove requirements / exceptions from the title commitment.

When you get a full municipal lien search on your property, details like the current water and sewer and any associated special assessments by the governing jurisdiction will be revealed to you before closing.

The purpose of the search is to make sure the buyer is purchasing a house from the legal owner and there are no liens, overdue special assessments, or other claims or outstanding restrictive covenants filed in the record, which would adversely affect the marketability or value of title.

Recently a reader, who had bought and rented out a condo as an investment, asked if he could claim the condo's special assessment bill as an expense against the potential capital gains tax he'd owe once he sold the condo.

A councilmanic tax does not include fees, rates and charges, or special assessments such a building permit fees, utility rates or LID assessments.

However, I've known too many instances of people getting hit with special assessments at the most inopportune times...

«This is where you'll find complaints about a noisy neighbor, upcoming special assessments, and HOA fee increases.

Several years ago, Gene Stevens and other condo owners of the Cricket Club Condominiums sued the Cricket Club Board of Directors for breach of fiduciary duty, seeking compensatory damages from the Board because the condo owners alleged that Condo Board of Directors spent special assessment money on things outside of those described in the Notice of Special Assessment that was sent to the condo unit owners.

At times significant repairs are required and to pay for these repairs, the resort will levy a one - time special assessment fee that is shared by all owners of the timeshare resort.)

· Unless the developer prepays the lease, you must make monthly lease payments on top of your mortgage, property tax, strata fee, and special assessment payments.

A8558 / S.5991: Creates an exemption from certain special assessments, fees and surcharges on hazardous waste generated by or at an elementary or secondary school.

Rejected all proposed changes to hazardous waste - related fees, including the Governor's proposal to re-set the hazardous wastewater fee threshold at 15TPY, as well as the Governor's and Senate's proposed reductions in per ton special assessments.

Special assessment tasks and tests can be used formatively but are not essential; there is a risk of them becoming frequent mini-summative assessments.

The price public employee unions pay to participate in the larger liberal coalition is to occasionally offend a slice of their membership by using their dues money and special assessment dollars for causes that that slice of workers doesn't support.

Since then, I have replaced all the appliances including the water heater, had two special assessments totalling $ 20,000, and had the condo fees and the property taxes go up by 30 % +.

A reduction in the total mortgage payment (principal, interest, taxes and insurances, HOA fees, ground rents special assessments and all subordinate liens): The new total mortgage payment is 5 % lower than the total mortgage payment for the mortgage being refinanced.

Currently there is a very large special assessment to replace the envelope with a new cladding.

Fractionals that hold a reserve fund and that undertake special assessments at regular intervals (to determine the need for major upkeep) are usually better maintained and, as a result, keep their value.

Owning a condo subject to these conditions could, then, mean being hit with a massive special assessment bill to repair the damage.

Condo owners could also face special assessments if their building sustains heavy damage that isn't fully covered by insurance or its policy has a high deductible.

Representation includes working with the trustees to interpret the condominium documents, counseling on the conduct and procedure for elections, advice regarding budget deficits, implementing special assessments and board member fiduciary duties, reviewing contracts with vendors, and prosecuting lien actions against unit owners.

If this is permitted, an owner «opts out» by paying his or her share of the loan «up - front» — essentially as an up - front special assessment.

The Firm's experience in governmental law encompasses litigation and complex transactions, including land assembly (eminent domain), enterprise zone and community reinvestment area creation, special assessment proceedings, municipal utility aggregation, tax legislation and public finance.

The municipal attorneys at Spesia & Taylor are well - versed in special service and special assessment areas, tax increment financing areas, sales tax incentive agreements and real estate tax abatement agreements.