Bill Introduced Granting Limited Immunity for Unauthorized Practice of Community Association Management
Bill Introduced to Fund Attainable Housing
Residential Storage Condominium Unit Bill Back for Another Round
Construction Defect Insurance Bill Introduced in Colorado
The 2017 legislative session opens today in Colorado! For those of you who are political junkies, following the recent elections, here is what you need to know about the makeup of the Colorado House and Senate:Continue Reading Posted In From Capitol Hill/Legislation
As many of you know, the association is entitled to collect a super lien payment from a foreclosing lender when a property enters into public trustee foreclosure. The super lien amount consists of up to six months of regular assessment charges that came due prior to the filing of the foreclosure. This is a monetary threshold rather than a requirement that there be six months of unpaid assessments due. For example, if an association had monthly dues of $100.00, a super lien could be claimed for $600.00 so long as the account ledger showed this balance as due. The balance could be comprised of any combination of assessments, late charges, interest, legal fees or other charges.
Continue Reading Posted In Money Matters
Happy Thanksgiving from all of us at Winzenburg, Leff, Purvis & Payne, LLP.
Be thankful that you don't already have everything you desire. If you did, what would there be to look forward to?
Be thankful when you don't know something, for it gives you the opportunity to learn.
Be thankful for the difficult times. During those times, you grow.
Be thankful for your limitations, because they give you opportunities for improvement.
Be thankful for each new challenge, because it will build your strength and character.
Be thankful for your mistakes. They will teach you valuable lessons.
Be thankful when you're tired and weary, because it means you've made a difference.
It's easy to be thankful for the good things. A life of rich fulfillment comes to those who are also thankful for the setbacks.
Gratitude can turn a negative into a positive. Find a way to be thankful for your troubles, and they can become your blessings.
-Author UnknownPosted In Off the Top
Is your association increasing, or even decreasing, its annual assessment fees for 2017? If so, it is important that the association follow its governing documents when providing notice of the change to all owners. In addition to providing owners with proper notice of any change, the association should also notify its attorney. This will help to ensure that any accounts and/or payment plans that are with the attorney for collection are properly noted, and any increase is accurately accounted for and collected.
In addition to payment plans that may be affected by the increase of assessment fees, there are also notification requirements and deadlines the association must comply with for certain owners who have filed for bankruptcy. Advising the association’s attorney of any change will allow the attorney to take the proper measures to ensure that the association retains the right to collect the new assessment fee.
If you haven’t already notified your attorney that your assessment fees have changed, or will change, for the New Year, pick up the phone or send an email to your attorney – I’m sure he or she would love to hear from you!Posted In Money Matters
Winzenburg, Leff, Purvis & Payne is pleased to announce that Brianna Schaefer has joined our firm. Brianna is an accomplished attorney specializing in the practice of community association law and is an outstanding addition to our law practice. Brianna has been practicing in HOA law since 2004 and has primarily focused her practice in the areas of collections and foreclosure. She enjoys finding creative ways to assist communities to thrive financially and encourages open communication between board members and owners. She is also an enthusiastic educator and enjoys developing and teaching classes on association related topics.Continue Reading Posted In Off the Top
As we’ve discussed earlier this year, Congress recently passed the Housing Opportunity Through Modernization Act (HOTMA), which was signed into law by President Obama on July 29, 2016. While the act addresses many aspects of housing and federal housing assistance, of particular interest to us and some of our clients is one part of the act that addresses FHA Mortgage Insurance for Condominiums. The act requires that the Secretary of HUD streamline the project certification requirements that are applicable to insurance for condominium mortgages to that recertification is substantially less burdensome than certifications. In addition, the act requires that the Secretary of HUD also consider and modify other factors and practices in FHA project approvals for condominiums, including the amount of commercial space in a mixed-use project, transfer fees, and owner-occupancy requirements.Continue Reading Posted In From Capitol Hill/Legislation , From Capitol Hill/Legislation