Bill Could Require Mortgage Lenders To Maintain Vacant Age-Restricted Units During Foreclosure
Individuals, both young and old, are having a tough time making ends meet for a variety of reasons. However, the situation might be even more precarious for individuals who are older that live on very limited incomes that may or may not be sufficient to cover their monthly obligations. Many of those older individuals who are facing financial difficulties live in age-restricted communities that often call for the payment of association fees in addition to their required mortgage payments. Homeowner and condo associations typically rely on the payment of such fees to cover things such as ground maintenance and overall community upkeep. However, as just about any New Jersey condo association lawyer knows, struggling individuals quite often decide to focus on paying other bills rather than their association fees.
New Jersey’s Condominium Act
Condo owners purchase more than just a living space when they sign their deeds; they also gain access to a community of condo owners, sharing common areas such as pools and lawns, and decisions about maintenance, decoration, and expansion within the community. Condo owners benefit from the influence of a homeowners association in protecting the residents’ shared interests and living spaces. The attorneys at Griffin Alexander, P.C., condominium association lawyers in New Jersey, find that the legal processes and documentation involved in condo ownership and governance are vital to ensuring that both parties are satisfied and protected in their rights.
Condominium Super Lien Laws
Several states in the country, including New Jersey, have super lien laws that affect mortgages and property costs. Condominiums in New Jersey are also subject to these laws, and the attorneys at Griffin Alexander, P.C., condominium association lawyers in New Jersey, say that understanding the consequences of these liens and the existing state laws can protect condo owners from losing money or filing liens incorrectly, as a result of an unknown or unfulfilled condition of their state’s laws.
FHA Changes Transient Leasing Rules to Help Condominium Associations Re-Certify
An association may provide a dated and signed statement on association letterhead affirming that no units within the condominium project are leased for a term of less than 30 days and tenants are not provided services commonly associated with a hotel.
Hopefully, this is will ease the certification process, which will lead to greater flexibility in the sale of units. And with increased sales, comes increased prices.
Premises Liability in Condominium Associations
A recent article in The New York Times claims that the New Jersey market for condominium complexes is heating up, and with the increase in development comes an increase in consumer interest. One thing to keep in mind when exploring condo living is the safety of the premises, and the state laws that govern liability and responsibility in the condo itself, as well as the grounds surrounding the building.
Understanding Community Association Ethics
Save for maybe audits and taxes, it is a topic that excites Association volunteers like no other: ethics. Still, understanding the ways board members or other Association volunteers, such as committee members, are expected to act, and in many cases are required to act, is something very important to the long-term success of a Community Association.
The Use of Portable Generators in Multi-Family Dwellings
In the wake of Hurricane Sandy and over 2.4 million homes without power, many homeowners have turned to portable generators to heat and light their homes. In multi-family dwellings, however, owners may not recognize the dangers of using a portable generator and many, if not most, do not realize that using such equipment is actually prohibited under their Association’s operating documents.
Community Associations and Tenants | Part 4 – Evicting Tenants
This is the fourth of 4 blog posts concerning tenant issues within community associations. In Part 1, I explained why Associations cannot prohibit tenants. In Part 2, I explained that it is not a good policy for an association to require credit checks or background checks of potential tenants. In Part 3, I explained about leasing resolutions and lease riders.
Community Associations and Tenants | Part 3 – Leasing Resolutions and Lease Riders
This is the third of 4 blog posts concerning tenant issues within community associations. In Part 1, I explained why a prohibition on tenants is either impermissible or highly unlikely. In Part 2, I explained that it is not a good policy for an association to require credit checks or background checks of potential tenants. Here in Part 3, I will explain about leasing resolutions and lease riders.
Community Associations and Tenants | Part 2 – Background Checks of Tenants
This is the second of 4 posts concerning tenant issues within community associations. In Part 1, I explained why a prohibition on tenants is either impermissible or highly unlikely. Here in Part 2, I will explain the next common question after prohibition: May an association require credit checks or background checks of potential tenants?