MARCUS,ERRICO,EMMER &BROOKS,P.C. Representing Over 3,000 Condominium Associations...One Association at a Time
Massachusetts - New Hampshire - Rhode Island
Condominium-Apartment Insider
July 2009
Issue 2
MEEB ATTORNEYS
WIN CONDOMINIUM CASE AT MASSACHUSETTS SUPREME JUDICIAL COURT
On June 22, 2009, MEEB Attorneys Thomas Moriarty and Katherine Brady scored a major victory for Lobisser Building Corp. and Crystal Springs Condominium Association at the Massachusetts Supreme Judicial Court in a case of first impression regarding the interrelation of phased condominium projects and local zoning concerns.
CHANGES TO THE MASSACHUSETTS TAX CODE AND ITS EFFECT ON CONDOMINIUMS
As summer begins we are sure that the farthest thing from your mind is tax season - however, recent changes to Massachusetts tax policy will have a sweeping affect on condominium and homeowners associations.
"A Man's House is His Castle" is the common expression illustrating the principle of individual privacy in one's home. Tell a person what they "can't" do in their home, and you are likely to have this phrase thrown back at you.
In accordance with the passage of the Housing and Economic Recovery Act (HERA) of 2008, the Federal Housing Administration (FHA) is implementing a new approval process for Condominium Projects to insure mortgages on individual condominium units under Section 203(b) of the National Housing Act. FHA will now allow lenders to determine project eligibility, review project documentation, and certify to compliance of Section 203(b) of the NHA and 24 CFR 203 of HUD's regulations. HUD will continue to maintain a list of Approved Condominium Projects. A copy of the new FHA approval process and guidelines can be obtained from the MEEB website by clicking on the following link.
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