Gerry Hyman has a new article about condominiums. So lets discuss it:
QUESTION: Following registration of our condo, the developer appointed the first board of directors. The board then passed a resolution limiting the common expense contributions to be paid to the corporation for the developer’s unsold units. The developer, in fact, paid no fees on those units until the turnover meeting held 20 months after the condo registration. Is the developer required to pay its share of common expenses for the units it owns from the date of the condo registration or from the date of the turnover meeting? Can the board appointed by the developer pass a resolution reducing its common expense contributions? How can the board elected at the turnover meeting recover the unpaid common expenses? Continue reading