Sentences with phrase «special assessments levied»

Finally, buyers should research any special assessments levied by the HOA.

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.

-- > regulations will be clarified to spell out the amount of an adequate reserve fund for each condo development, which should also help eliminate surprise hikes in fees or special assessments levied against each owner

Not exact matches

Special assessment bond: A municipal bond that is backed by tax assessments levied on the property of residents who benefit from the facility being financed, such as an improved sewer system.

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.)

May also refer to a levy against property for a special purpose, such as a sewer assessment.

MONTREAL — Canadian snowbirds who were lucky enough to escape property damage from hurricane Irma will still face higher costs as insurance providers jack up premiums and condo associations levy special assessments, say Florida insurance experts.

The Town enacts a bylaw with a view to levying the cost of the project as a special assessment on lands benefited by the project (set at $ 196,218.78 payable immediately or over 10 years at 6 % interest).

Prior to the special assessment being levied, a status certificate was delivered to the prospective purchaser of unit 13.

In order to fund the roof replacement, the board levied a special assessment in the amount of $ 745,232.

Receivers can be expensive, so a special assessment will most likely be levied against all owners to cover these costs.

If HOAs need to do major repairs, the board can levy a «special assessment» on top of its regular dues.