Category Archives: Community Associations

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Foreclosure an Effective Method to Recoup Unpaid Condo Assessments

Posted in Community Associations

Foreclosure rates for residential properties continue to drop. Black Knight Financial Services reported that in 2016, the national foreclosure rate dropped by 30 percent. The first quarter of 2017 reports the lowest rate of foreclosure activity since 2006. As the inventory of foreclosed properties lessens, housing markets will see an increase in value. Owners should… Continue Reading

Condominium Associations May Recoup Insurance Deductibles

Posted in Community Associations

One of the largest line items in any condominium association’s budget is its insurance premium. Condominium associations are required, pursuant to their governing documents, to carry adequate property insurance to address common elements (and in many cases, unit owners’ improvements), liability insurance, and director’s and officer’s insurance coverage. Further, condominium associations budget for any insurance… Continue Reading

Court Upholds Association Revocation of Parking Privileges

Posted in Community Associations

A New Jersey trial court has upheld the suspension of parking privileges against a delinquent condominium owner. In this case, the condominium association adopted a Resolution – based on authority from the governing documents – that revoked parking privileges for habitually delinquent unit owners. The unit owner involved failed to pay his common expense fees… Continue Reading

Foreclosures—New Jersey Recovery Still Slow

Posted in Community Associations

According to a September report from RealtyTrac, nationwide foreclosure rates have dropped 24% from a year ago. For the first time since the real estate crisis foreclosure timelines have also decreased. Experts suggest the reduction in timelines is the best indication of a full market recovery because it shows states are clearing the backlog of… Continue Reading

Renters and Owners: How Are They Treated by Community Association Board Members

Posted in Community Associations

Stark & Stark Shareholder Christopher Florio recently joined Ray Dickey from AssociationHelpNow to discuss treatment of renters and owners as it applies to homeowner association board members, community managers, and management companies. They discuss board meetings, parking, and access to the association recreation facilities. Check out the video below.

Foreclosing Association Liens

Posted in Community Associations

Many people do not realize that Condominium Associations can foreclose units in the same manner as a mortgagee, pursuant to N.JS.A. 46:8B-21. The Complaint to Foreclose is filed in the County where the unit is located. A copy of the filed Complaint is then served upon the unit owner via personal service. The unit owner… Continue Reading

Voting by Proxy Actually Requires a Proxy

Posted in Community Associations

The bylaws of most community associations permit members to vote “in person” or “by proxy.” Voting “in person” means just what it sounds like: a member attends a meeting and casts their vote while physically in attendance. But what does voting “by proxy” mean? Black’s Law Dictionary defines a “proxy” as the written authorization given… Continue Reading