D.S. from Florida writes:
Dear Mister Condo,
Is there a time limit on condo boards asking for a refund? I am the current owner and previously rented the condo I live in. The condo was dispersed to me in 2016 when settling a family trust in 2012. The management company made a mistake and credited the account from a tax refund that applied to the previous year prior to the trust purchasing the property. Now they are acknowledging their mistake and asking for the money back. Is there a time limit or am I responsible for reimbursing the condo management company?
Mister Condo replies:
D.S., I am not sure I have ever heard of such a situation or that I fully understand how the property management company is involved. Regardless of how the mistake was made, it seems like you are not denying the mistake, just looking to see if there is a loophole that would allow you to not pay for something you admit owing. The short answer is that I just don’t know if there is a limitation on the time for correcting an error such as this. My gut tells me that there is not and that you should simply pay what you owe and move on. You didn’t mention how much money is in play here and that might change my answer but not my philosophy. If an error was made and you understand what the error was, I would acknowledge the error and pay the management company what it is owed. If the management company is actually collecting on behalf of your association, then you should most definitely pay what you owe or they might have the ability to put a lien on your home. You certainly don’t want that. Also, if it is a particularly large amount, you might want to ask for repayment plan over a short period of time. Good luck!