J.A. from New Jersey writes: Dear Mister Condo, Is there any New Jersey law that requires budgeted amounts to be completely used up in the budget fiscal or annual year? If our snow budget amount is not used because of lack of snow removal in a given year: CAN THE BALANCE THAT WAS NOT USED…
Tag: Assessments
Running Toilet Water Expense Passed on to Deceased Condo Owner’s Children
W.J. from Tolland County, Connecticut writes: Dear Mister Condo, My mom died in her condo a couple months ago. According to the condo association, she had a running toilet for some time and incurred a large water bill. Do we have to pay this? Mister Condo replies: W.J., I am sorry for your loss. If…
How Many Votes Needed for a Special Assessment?
W.O. from New London County, Connecticut writes: Dear Mister Condo, If 40 owners in a 54-unit condo send in a proxy for an assessment and 35 are in favor, do we have a quorum to implement the assessment? Mister Condo replies: W.O., it really depends on your condo’s governing documents rules on voting for a…
Where Does the Unused Money in the Reserve Fund Go?
H.L. from New Haven County, Connecticut writes: Dear Mister Condo, Our PUD consists of 19 individual fee simple owners of 4 family rental apartments totaling 76 apartments. The Association is comprised of each owner owning 1/19 of the property the buildings stand on. The owners contribute each month to the maintenance of the buildings and…