Question:
Can a person lose their home for "special assessment" in an HOA; without the votes of the homeowners, receive a 30-day notice; and the amount is over $5000.00; The stated purpose of the "special assessment" is to re-roof and replace trim in July, when the yearly budget was announced in April without mention of "special assessment". The by-laws state that special assessment are a new incident that occurs to common area that could not have been foreseen at the time that the yearly budget is set, also staates that the board can not approve more than a 20% increase in "regular" assessment, or 5%, in "special" without a quorum. We have 18 homes @ $5500.00, this is over $99,000.00 to be placed in the hands of three homeowners, with out legal restraints. The lien was recorded on August 22,2006. How do I stop this action?
Answer:
You need to consult an attorney who specializes in real estate law. I had to do the same thing in a dispute with the HOA and he was very helpful.
It helps to carefully read the declarations, covenants, and by laws to generally know where you stand before going to the lawyer. After reading it you may already know the answer and then just need to find out if you should cave in or sue their pants off.
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