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STATUTE REVISION ALLOWS RE-ALLOCATION OF PERCENTAGES
Massachusetts Condominium Associations continue to struggle with the ongoing ripple effects of foreclosures and high delinquency rates. When fewer Owners are footing the bill the burden on those who are paying of course increases.
Unfortunately, even with recent government and banking industry plans to stem the tide of mortgage delinquencies, it appears that, at least for the immediate future, lost revenues and unpaid common area fees will continue to be a major issue for many communities. For this reason, it is important for communities to explore all options which can minimize the financial impact on Owners. One positive step that emerged among the wake of the foreclosure crisis was the Massachusetts Legislature's amendment to Section 5(b)(1) of M.G.L. Chapter 183A.
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A LIMIT TO PLANNING FLEXIBILITY
UNDER THE CONDOMINIUM ACT?
Massachusetts condominium jurisprudence typically reflects the guiding principle that the condominium statute is essentially an enabling statute, setting out a framework for the development of condominiums in the Commonwealth, while providing developers and unit owners with planning flexibility. It is widely known that the Massachusetts Condominium Act, G. L. c. 183A, sets forth certain minimum requirements for the establishment of condominiums, but those matters that are not specifically addressed in the statute are to be worked out by the involved parties.
A recent decision from the Appellate Division of the District Court, Board of Managers of Spinnaker Island Condominium and Yacht Club v. Grobleski, 11-ADMS-40016, appears, however, to demonstrate the existence of a limit to the planning flexibility which has aided the development of condominiums in Massachusetts.
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WHY JOIN CAI?
Stop reinventing the wheel and instead take advantage of tried and proven strategies and techniques that work. CAI helps board members and homeowners with information and resources that will save you money and time, managers and management companies are provided with training and information that will develop manager skills and increase business and business partners are provided with connections and networking that will help grow your business. To become a member please click here. For a sample of the Board Resolution for CAI Membership click here.
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