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In the last installment of the series, I went through some of the terms that Associations need to know when a Unit Owner files for Bankruptcy. This edition will talk about the “Automatic Stay” and how it affects...
Category: Condominium and Homeowners Associations
Can an Association Invest Its Capital Reserve Funds?
May 27, 2021
Has your Board, especially if it has a financial professional on it, ever looked with dismay at the low interest that a Capital Reserve Fund is earning? They may think that if they could get a better return on that Reserve...
Condominiums, Homeowners’ Associations and Bankruptcy: What is an “Automatic Stay” and Other Terms You Need to Know
May 19, 2021
In the last installment of this series, I explained that Bankruptcy is a federal law designed to help people who owe money get a fresh start. In this part, I want to explain some terms that are helpful to remember. These...
Bankruptcy helps people who can no longer pay their debts get a fresh start. This is the statement that comes at the very top of the page for the United States Bankruptcy Courts. Every accountant and attorney who has ever...
Condominiums, Homeowners’ Associations and Bankruptcy: How Does a Unit Owner Bankruptcy Affect Collections?
May 5, 2021
Collection of assessments is one of the biggest headaches for many Community Associations. Most of the time, collections follow a standard process. It might be slow and take several steps. But, since assessments are...