legal documents: FHA Condo Approvals – Questions About Legal Documents Part 1 - 03/20/14 12:32 AM
FHA Condo Approvals – Questions About Legal Documents Part 1
Next week, I am attending a roundtable session regarding FHA Condo Approvals at the HUD Building in Washington, D.C.  Attendance to this session is by invitation-only and I am thrilled to be one of the chosen project consultants to attend.
Because we will have the opportunity to ask questions and offer our opinions regarding project approvals, I sent an email to the many property managers and condominium attorneys with whom we work.  The email requested questions and issues that they have run into with the project approvals.  One of the attorneys … (0 comments)

legal documents: The Essentials of Common Interest Communities Part Deux - 03/02/14 10:48 PM
The Essentials of Common Interest Communities Part Deux
In a previous article, I wrote about the basics of home ownership in common interest communities: condominiums, planned communities or PUDs, and cooperatives.  This article will tackle some of the basics about the Association, the legal governing documents and the monthly maintenance fees.
The Association and Board of Directors
By purchasing into a common interest community, the unit owner becomes a member of the Association which may also be called a Homeowner’s Association, a Community Association or a Condominium Association.  In a cooperative, they’re simply referred to as shareholders.
They all mean basically … (7 comments)

legal documents: FHA Condo Approvals – Child Labor - 07/31/13 09:29 PM
FHA Condo Approvals – Child Labor
It’s summertime and the kids are out of school.  Mine are 16 and 12 and are [fairly] responsible so they can be left home for a few hours at a time while I run around to town halls and the Secretary of State’s office to collect documents.
My younger guy, Zac, likes to come with me.
One of the documents needed for condo approvals with HUD is a copy of the filed Articles of Organization or Incorporation.  While many states have these available online, Connecticut does not.  They are all stored on microfilm in the Commercial … (6 comments)

legal documents: FHA Condo Approvals – The By-laws Aren’t Recorded or Signed! - 07/10/13 03:01 AM
FHA Condo Approvals – The By-laws Aren’t Recorded or Signed!
I have run into this dozens of times and this simple work-around is one of many that we have learned from working with HUD.  The Condominium Project Approval and Processing Guide does not mention this nor do any of the Mortgagee Letters so I thought it would be helpful to post.
 
As mentioned in a previous article, when submitting a condominium project for approval with HUD, a recorded copy of the By-laws is not necessary if the By-laws were not recorded along with the Declaration or Public Offering Statement.
 
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