Associations routinely need to raise funds for emergency projects or other reasons. In this class, we will discuss common reasons for associations to raise money, typical governing document provisions that would be applicable, and methods of getting owner approval, when required, for the money. We will also discuss special assessments and strategies for best imposing special assessments to minimize dischargeability in bankruptcy or lien avoidance and foreclosure. We will also discuss the perennial concern of allowing owners to prepay a special assessment to avoid late charges or interest, particularly if a bank loan is involved, and how that works—or does not work—with common Association declaration provisions.

Hosted by David J. Graf

For Managers on a Subscription Plan.

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