Get 2 months of free community web site hosting from Community123.com!
Saturday, November 25, 2017
Get 2 months of free community web site hosting from Community123.com!


SBCA: Free education for HOAs and condos on satellite placement issues.
(National Trade Organization)
Helping HOAs, condos and property managers with satellite placement issues since 1986.
Only members have access to all features.
Click here to join HOATalk for Free! Members click here to login and access all features.
Subject: Act of Bankruptcy?
Prev Next
Please login to post a reply (click Member Login on the menu).
Author Messages
MichaelB32
(California)

Posts:109


09/11/2017 3:28 PM  
Our HOA has been running in the red for over five months over $100K. Now we have in the reserves account from our finance statement this entry:

Reserve Account: $1,170K
Net Reserve: $671K

Our HOA brings in about $80K a month and this years budget was based on that. Now strange things are happening. Our Property Management has written checks and yet not mailed them. Some vendors are over 4 months over due. About three month ago, trash was not picked up because of non payment. That got resolved. Now recently all the elevators were turned off because we have not paid the State inspection agency (or that is what our Property Management Company has said). Three months ago, the HOA authorized this inspection. So I doubt it was less than 90 days overdue. From what I understand, the State does not turn off elevators because of non payment. There have been no terrific expense this year, though there is a claim is it slab leaks- but these are not any worse than last year.

The Property Management company has give us no good reason for not paying our bills. Does anybody have an idea what is going on. Have any of you had similar experiences.

Also what does it mean when our HOA Corporation has an FTB status of SUSPENDED?

Members are getting concerned.

Michael Barto
[email protected]
TimB4
(Virginia)

Posts:14861


09/11/2017 3:37 PM  
Sounds like everyone isn't paying their assessments on time.

When this happens, assessments need to be higher.


Your Board is ultimately responsible for the actions of their agent, the MC.

If you're on the Board, demand an explanation or threaten to terminate the contract for non-performance.

If you're not on the Board. Contact a board member directly and ask what is going on.
Offer to assist if you can.
LetA
(Nevada)

Posts:307


09/11/2017 4:49 PM  
If you can't change your people, change your people.. It sounds like your BOD's needs to get rid of the management company. Likewise with the BOD.
JanetB2
(Colorado)

Posts:3642


09/11/2017 8:42 PM  
Posted By MichaelB32 on 09/11/2017 3:28 PM
Our HOA has been running in the red for over five months over $100K. Now we have in the reserves account from our finance statement this entry:

Reserve Account: $1,170K
Net Reserve: $671K

Our HOA brings in about $80K a month and this years budget was based on that. Now strange things are happening. Our Property Management has written checks and yet not mailed them. Some vendors are over 4 months over due. About three month ago, trash was not picked up because of non payment. That got resolved. Now recently all the elevators were turned off because we have not paid the State inspection agency (or that is what our Property Management Company has said). Three months ago, the HOA authorized this inspection. So I doubt it was less than 90 days overdue. From what I understand, the State does not turn off elevators because of non payment. There have been no terrific expense this year, though there is a claim is it slab leaks- but these are not any worse than last year.

As others have noted .;..the bucks stop with the HOA board!!! The BOD has the ultimate responsibility for the HOA ... not your employees (a.k.a. Management Company). It appears your BOD is not properly overseeing your management company with regards to proper payment of your bills. If they are not performing properly then you need to become self managed OR replace your management company.

The Property Management company has give us no good reason for not paying our bills. Does anybody have an idea what is going on. Have any of you had similar experiences.

Also what does it mean when our HOA Corporation has an FTB status of SUSPENDED?

When reaserch the term FTB Status of Suspended on google the following comes up which potentially shows that your HOA has been suspended.
http://www.berding-weil.net/articles/suspension-of-hoa-corporate-status.php
https://www.echo-ca.org/article/what-suspended-corporate-status-means-hoa

Essentially as noted in the links ... "During the time a corporation is suspended it cannot exercise its corporate powers, rights, and privileges, and contracts entered into while the corporation is suspended are voidable. This means the corporation can't initiate action to enforce governing document provisions or to collect delinquent assessments, initiate a lawsuit to enforce a contract or for other claims, or defend a lawsuit filed against the association."

If you are Suspended your homeowners need to take the bull by the horns and bring your HOA into compliance ASAP!!!!


Members are getting concerned. YEP ... I would be concerned!
MichaelB32
(California)

Posts:109


09/13/2017 12:50 PM  
My Associations Financial Statements are posted so members can look at them. At the beginning of each statement is a summary consisting of

Operating Accounts:
Due to Reserve Funds
Accounts Receivable - Net
Reserver Accounts

If you run these in a speedsheet over the last seven months, it says that the HOA is bring on the average $120K a month (accounts receivable - net). How can this be? We have property assessments of $82K a month total for all our 180 units. I took the number of units or each type (1,2,3 bed) multiple it by the assessment of each type and sum them all up. How can we bring $40K a month more. Magic money? We make no money on renting our clubhouse? Could one of you accountant types explain how this works? Am I just a dumb engineer. Is there some strange definition of NET I do not understand?

Michael Barto
[email protected]
DouglasM6
(Arizona)

Posts:438


09/13/2017 5:23 PM  
Posted By MichaelB32 on 09/11/2017 3:28 PM
Our HOA has been running in the red for over five months over $100K. Now we have in the reserves account from our finance statement this entry:

Reserve Account: $1,170K
Net Reserve: $671K

Our HOA brings in about $80K a month and this years budget was based on that. Now strange things are happening. Our Property Management has written checks and yet not mailed them. Some vendors are over 4 months over due. About three month ago, trash was not picked up because of non payment. That got resolved. Now recently all the elevators were turned off because we have not paid the State inspection agency (or that is what our Property Management Company has said). Three months ago, the HOA authorized this inspection. So I doubt it was less than 90 days overdue. From what I understand, the State does not turn off elevators because of non payment. There have been no terrific expense this year, though there is a claim is it slab leaks- but these are not any worse than last year.

The Property Management company has give us no good reason for not paying our bills. Does anybody have an idea what is going on. Have any of you had similar experiences.

Also what does it mean when our HOA Corporation has an FTB status of SUSPENDED?

Members are getting concerned.




Just for clarity, Your reserve account is 1.7 million dollars and the Net reserve is $671,000.00?
MichaelB32
(California)

Posts:109


09/13/2017 5:46 PM  
This is from last Financial Statement, the summary statement. Not sure what it means.Hope it answers you question. Can you please tell me what it means.

Operating Account$ 136,814.38)
Due to the reserves: ($499.360.89)
Account Receivable - Net :$111,435.97
Reserve Account: $1,170,435.28
Net Reserves: $671,074.39

Michael Barto
[email protected]
TimB4
(Virginia)

Posts:14861


09/13/2017 5:59 PM  
Michael,

Regarding the Reserves.

I think you are looking at a balance sheet (which is based on the whole year but looks at today)
I'm expecting that your statement means the following:

1) The expected total amount of reserves at the end of the year is $ 1,170,435.28

2) Payments/transfers to the Reserves are made periodically over the year. Currently (looking at an annual budget) $499,360.89 still needs to be transferred.

3) Expected total (1,170,435.28)
minus amount that still needs to be transferred ($499,360.89)
equals the net (or current amount within the bank account for reserves) i.e. $672,074.39
MichaelB32
(California)

Posts:109


09/13/2017 8:45 PM  
Thank you.
If you want to look at our statement, send me your email to [email protected] I am in Souther California.

Michael Barto
[email protected]
JanetB2
(Colorado)

Posts:3642


09/14/2017 8:14 PM  
OK ... Your statements are a bit confusing but lets see if we can clarify. The one question I would have is whether the financial statement you have noted is a YEARLY or a MONTHLY statement?

Posted By MichaelB32 on 09/13/2017 5:46 PM
This is from last Financial Statement, the summary statement. Not sure what it means.Hope it answers you question. Can you please tell me what it means.

Operating Account$ 136,814.38) This is potentially money in your operating account to be used to pay your usual monthly bills to "operate" the HOA.
Due to the reserves: ($499.360.89) Dues to the Reserves ... Not familiar with this line item Title ... However, the title seems to designate that this is money soon to be transferred to the Reserve Account.
Account Receivable - Net :$111,435.97 This should be your net receivables as of the time of the statement ... and why I would question is this an anual statement for your annual meeting or is this a monthly statement?
Reserve Account: $1,170,435.28 This would be potentially the total amount available in your reserve account without deducting potential upcoming payments to be made for work already contracted to be done.
Net Reserves: $671,074.39 This would be potentially the Reserve Account minus amounts already under contract for planned or current work being done. This is what would be available for future work.



JanetB2
(Colorado)

Posts:3642


09/14/2017 8:16 PM  
From what you have stated I am not sure why you believe you are potentially operating in the RED?
MichaelB32
(California)

Posts:109


09/15/2017 7:39 AM  
Why are we running in the Red? That is what are Property Management Company says. They cut checks once a month including ones for the reverse. Which they then hold till they expire. They never send them out. Some of our vendors have not been paid for 4 to 6 months. There seems to be not clear explanation as to why they are doing this. I took their summary statement at the beginning of the monthly financials.

This is the one ending with July 31
Operating Accounts: $(136,814.38)
Due to the Reserves: $(499,360.89)
Accounts Receivable - Net: $111,435.97
Reserve Accounts: $1,170,435.28
Net Reserve: $671,074.39

We have 180 units (1bd, 2bd and 3bd). Using there assessments per month, we only have accounts receivable of $82,077.36. Our HOA has no other source of income! Then why do we have Accounts Receivable of $111,435.97? What does this mean? Are members behind on Dues? What? How ae we are running in the red? I would like to send you our financial statements. No one seems to know how to answer these questions in our HOA. There must be some way I can send our financial statement. Drop box, something? My email is [email protected]

What I really think is our Property Management Company ERP system is messed up. Some programmer has put in some code that is producing bogus results. I know they use Microsoft Studio and have some Java programmers. Their IT processes seem to be something to be desired.

Attached is a month breakdown of the summaries since January

Attachment: 1915394960071.pdf


Michael Barto
[email protected]
PainintheA


Posts:0


09/15/2017 9:10 AM  
Perhaps there is no CORPORATE treasurer available (y'all are suspended) authorized to SIGN the checks the 'manager' has written.

? Where is the HOA membership while this is occurring ?
PainintheA


Posts:0


09/15/2017 9:13 AM  
..... Then why do we have Accounts Receivable of $111,435.97? .....



Past due accounts.

People are NOT paying their assessment.

No corporation = no president, no secretary, no treasure, NO DIRECTORS.



Y'all seem to be scre*ed.
MichaelB32
(California)

Posts:109


09/15/2017 11:40 AM  
Yes we have a HOA Board. It was elected in July. The same person has been the Treasurer for the last two years. We do not sign our checks. The Property Management Company take care of that.

Michael Barto
[email protected]
MichaelB32
(California)

Posts:109


09/15/2017 11:48 AM  
So what you are saying, if people are not paying their assessments, this distorts are Account receivables by $40K.

I do not understand how this works?

Do you mean say we have a deadbeat who stops paying say $500 a month for 4 months. Now instead of our Accounts Receivable be $82K, it is now $84K. Is that how it works?

Michael Barto
[email protected]
PainintheA


Posts:0


09/15/2017 12:21 PM  
IMO:

the 'manager' should merely process the checks then present them to the Board for signature, they should NOT be signatory to the bank account


accounts receivable = money owed the association

if January not paid it is still owed so February will show 'double' the amount






The Board of Directors is responsible whether or not they pay others to perform the 'grunt work' or the book-keeping.

Y'all elected them - y'all can throw the bums out.

Read, reread then read again your documents:

Covenants and Restrictions
State corporate law and/or any state HOA law
Articles of Incorporation
Corporate Bylaws
GenoS
(Florida)

Posts:1633


09/15/2017 1:11 PM  
Posted By MichaelB32 on 09/15/2017 11:40 AM
Yes we have a HOA Board. It was elected in July. The same person has been the Treasurer for the last two years. We do not sign our checks. The Property Management Company take care of that.

Wow.
TimB4
(Virginia)

Posts:14861


09/15/2017 6:19 PM  
Posted By MichaelB32 on 09/15/2017 11:40 AM

We do not sign our checks. The Property Management Company take care of that.




I don't agree with such practice.

However, it is a practice that is often done.

The reason I don't believe in the practice is that the temptation is then there for the MC to embezzle. We keep locks on doors to remove temptation and keep the honest people honest. The crooks won't care if it's locked or not.

It can also make it more difficult when MC are changed (especially if the separation isn't amicable).
RichardP13
(California)

Posts:2051


09/15/2017 7:50 PM  
Michael

If you are FTB suspended, you are in very bad shape. It means taxes or forms have not been filed with the Franchise Tax Board and/or Secretary of State. In your current state, you could be sued and would not been able to defend yourself. You also could not sue anyone either, whether in Small Claims or Superior Court. Essentially, you have NO legal status.

Your total delinquencies are at $111K. My old HOA is currently at $300K, yet they are in relatively good shape.

Someone has borrowed $500K from the reserves. IT BETTER HAVE BEEN APPROVED BY THE BOARD AND IN THE MINUTES WITH A REPAYMENT SCHEDULE NO LONGER THAN 12 MONTHS.
It not, a member could sue them and there is NOTHING they could do but pay the piper.

Bottomline, you have some major issues!
RichardP13
(California)

Posts:2051


09/15/2017 7:55 PM  
Posted By TimB4 on 09/15/2017 6:19 PM
Posted By MichaelB32 on 09/15/2017 11:40 AM

We do not sign our checks. The Property Management Company take care of that.




I don't agree with such practice.

However, it is a practice that is often done.

The reason I don't believe in the practice is that the temptation is then there for the MC to embezzle. We keep locks on doors to remove temptation and keep the honest people honest. The crooks won't care if it's locked or not.

It can also make it more difficult when MC are changed (especially if the separation isn't amicable).



People in Nebraska don't lock their doors, and haven't for a very long time.

Practices put into place for a self managed complex and one with a off site property management company will have different procedures. I sign most checks except my own. The management fee is on ACH, as it is a contract, anything extra, I will have signed. Invoices go onto a web portal and the Board will approve prior to a check being cut. They have monthly financials presented each month and a bank statement to verify the transactions. It is up to the individual HOA to review their financials.
JohnC46
(South Carolina)

Posts:7010


09/16/2017 4:52 AM  
Posted By TimB4 on 09/15/2017 6:19 PM
Posted By MichaelB32 on 09/15/2017 11:40 AM

We do not sign our checks. The Property Management Company take care of that.




I don't agree with such practice.

However, it is a practice that is often done.

The reason I don't believe in the practice is that the temptation is then there for the MC to embezzle. We keep locks on doors to remove temptation and keep the honest people honest. The crooks won't care if it's locked or not.

It can also make it more difficult when MC are changed (especially if the separation isn't amicable).




In our standalone patio homes HOA, $65K budget, our MC writes and signs all checks. We have checks and balances in place but it is near impossible to stop one with larceny in their heart.
JanetB2
(Colorado)

Posts:3642


09/16/2017 10:09 PM  
Posted By TimB4 on 09/15/2017 6:19 PM
Posted By MichaelB32 on 09/15/2017 11:40 AM

We do not sign our checks. The Property Management Company take care of that.




I don't agree with such practice.

However, it is a practice that is often done.

The reason I don't believe in the practice is that the temptation is then there for the MC to embezzle. We keep locks on doors to remove temptation and keep the honest people honest. The crooks won't care if it's locked or not.

It can also make it more difficult when MC are changed (especially if the separation isn't amicable).


LOL ... Tim beat me to it ... I also DO NOT AGREE with this policy!!! Keep in mind no matter what happens with the HOA the BUCK stops with the HOA!!! If your homeowners sue anyone it is NOT going to be your Management Company ... it will be the HOA. Your Management Company is an Employee of the HOA and subject to the HOA Board direction. I have seen and heard of too many HOA's when they change Management Companies run into issues regarding their bank accounts ... WHY ... because they gave up control to someone else which is supposed to be their responsibility!!!!
JanetB2
(Colorado)

Posts:3642


09/16/2017 10:38 PM  
Posted By JohnC46 on 09/16/2017 4:52 AM
Posted By TimB4 on 09/15/2017 6:19 PM
Posted By MichaelB32 on 09/15/2017 11:40 AM

We do not sign our checks. The Property Management Company take care of that.


I don't agree with such practice.

However, it is a practice that is often done.

The reason I don't believe in the practice is that the temptation is then there for the MC to embezzle. We keep locks on doors to remove temptation and keep the honest people honest. The crooks won't care if it's locked or not.

It can also make it more difficult when MC are changed (especially if the separation isn't amicable).


In our standalone patio homes HOA, $65K budget, our MC writes and signs all checks. We have checks and balances in place but it is near impossible to stop one with larceny in their heart.


Potentially your Management Company should complete the checks; however, your BOD members should be the individuals to sign the checks!!! After all it is their TAILS on the line. Keep in mind the BUCK stops with the HOA because the Management Company is an Employee of the HOA. Many years ago I took over as the Office Manager of an Non Profit Association. I took over in in October and had an upcoming World Wide Convention to prepare for in in Reno, NV for February. When I took over the officers wanted to place me as a signator on checks and which I REFUSED!!! I took on the position they had tried to fill for a very long time due to the circumstances ... which was the past president and past office manager embezzled money from the non-profit corporation ... because not one else would touch with a ten foot pole and was a challenge. As I explained to them you ended up in your past problem because of this issue. You should NEVER have any individual who receives money, deposits money, and keeps your books EVER also sign your CHECKS!!! HELLO PEOPLE ... THAT IS BEYOND STUPID!!!


MichaelB32
(California)

Posts:109


09/16/2017 11:16 PM  
I went and looked at the 2016 Financial. At the beginning of each report, the Property Management Company provided a summary

Operating Accounts:
Due to the Reserves Fund
Account Receivable - Net
Reserv Accounts
NET RESERVE

Under this "Act of HBankruptcy" Topic, I already provided the same for 2017. The 2016 looks an awful lot like 2017 when they only increase our dues by 3.5%

There are two entries you should look at in this report. One is Net Receive (calc) - meaning calculated from Reserve account minus due the reserve and the Net Receive (rpt) - meaning on the report the Action prepares for the HOA.

I have highlighted in pink some issued particularly April 30, 2016 report. Most are nickel and dine or round off errors for most of these except for April 30, 2016 where they are off almost $72K. What this shows me is that our reports are prepared by hand--which is alone scary. Or some programmer is having the system generate manual entries--which is even more scary.

Attachment: 1916163985671.pdf


Michael Barto
[email protected]
JanetB2
(Colorado)

Posts:3642


09/17/2017 1:10 AM  
Michael ... You have over ONE MILLION dollars in your Reserves ... that is DEFINATELY not Bankrupt for your HOA. Potentially your HOA is letting your EMPLOYEE who is (a.k.a. Management Company) run your business and just not properly paying your bills. So you potentially have three choices ... 1) Continue on same BS path, 2) get your Management Company on the right track, or 3) FIRE your Management Company for failure to perform their job. You can whine or cry to us all day long ... but WE are not the ones who can make any change.
PainintheA


Posts:0


09/17/2017 5:54 AM  
ditto
RichardP13
(California)

Posts:2051


09/17/2017 9:08 AM  
Posted By JanetB2 on 09/17/2017 1:10 AM
Michael ... You have over ONE MILLION dollars in your Reserves ... that is DEFINATELY not Bankrupt for your HOA. Potentially your HOA is letting your EMPLOYEE who is (a.k.a. Management Company) run your business and just not properly paying your bills. So you potentially have three choices ... 1) Continue on same BS path, 2) get your Management Company on the right track, or 3) FIRE your Management Company for failure to perform their job. You can whine or cry to us all day long ... but WE are not the ones who can make any change.



They don't have $1M in reserves. $500K was taken out. That is what due from reserves means. As a management company, we are NOT employees, but independent contractors.
MichaelB32
(California)

Posts:109


09/17/2017 12:15 PM  
What I think is the wonderful software the our property management company is using is misleading us and is really screwed up. From this Topic, I have got serval ideas.

1. Take charge of signing the checks and check the invoices (P.O's) against the expenditures. Make sure that the expense was authorized. Have the Board do this instead of the Management Company. Maybe an independent auditor. The have one in the HOA. The Management company will collect the assessments
2. Suspend the Reserves payback until we understand what is going on with our finances.


Revserve issue (seems this thread is going in that directions):


We have 671K in the reserves (July 31, 2017). We owe the reserves $500K We are not broke. The Davis Sterling Act sets up reserves up this way. Except for temporary borrowing, boards may not expend funds designated as reserve funds for any purpose other than the repair, restoration, replacement, or maintenance of, or litigation involving the repair, restoration, replacement, or maintenance of, major components that the association is obligated to repair, restore, replace, or maintain and for which the reserve fund was established. (Civ. Code §5510(b).)

But we can suspend putting money in the reserves. Suspending reserve deposits qualifies as borrowing from reserves. Monies allocated to the reserve account are pledged in the reserve funding plan annually published to the membership, as well as the operating budget mailed to all members prior to the start of the fiscal year. Those funds are then collected from the membership for that purpose. Intercepting reserve monies before they are deposited into the reserve account or waiting until after they are deposited produces the same result--reserve monies are being used for non-reserve expenses. Such actions are allowed if done properly.

Monies borrowed from the reserves must be repaid to the reserve fund within one year of the date of the initial transfer, except that the board may, after giving the same notice required for considering a transfer, and, upon making a finding supported by documentation that a temporary delay would be in the best interests of the association, temporarily delay the repayment. (Civ. Code §5515(d).) Associations are allowed to levy special assessments to replenish reserve funds.

Maybe we need to reduce the contribution. Can we do that? What I think is the wonderful software the our property management company is using is misleading us and is really screwed up.



Michael Barto
[email protected]
GenoS
(Florida)

Posts:1633


09/17/2017 1:06 PM  
Posted By RichardP13 on 09/17/2017 9:08 AM
They don't have $1M in reserves. $500K was taken out. That is what due from reserves means. As a management company, we are NOT employees, but independent contractors.

Not necessarily. We have a "Due to Reserves" financial line every month. There's a corresponding "Due from Reserves" line in our reserves accounting. In our case, "Due to Reserves" means that out of the money collected every month for assessments, a certain amount is transferred to the reserves.
RichardP13
(California)

Posts:2051


09/17/2017 2:38 PM  
Due from and due to are two different animals. In this case, monies were taken out of reserves and the accounting hasn't been properly completed. It is called lazy bookkeeping.
JanetB2
(Colorado)

Posts:3642


09/18/2017 8:21 PM  
Posted By RichardP13 on 09/17/2017 2:38 PM
Due from and due to are two different animals. In this case, monies were taken out of reserves and the accounting hasn't been properly completed. It is called lazy bookkeeping.


Initially I agreed with Geno and how he was reading, as I did the same. However, after your post I went back to OP's summary and crunched numbers ... Yep if you take the Reserve account and subtract the Net Reserve the total will equal the Due to Reserves. LOL ... what you call lazy bookkeeping ... I consider sloppy bookkeeping or just really bad Line Item Descriptions
RichardP13
(California)

Posts:2051


09/18/2017 9:25 PM  
When I set up the chart of accounts for an HOA, all the reserve items are tied to the reserve account. When a pool heater, which is reserve asset, needs to be replaced, the check is cut directly from the reserve account and the line item in the reserve account is adjusted. This way you have two sets of books, one operating, one reserves. In the OP case, they are dipping into the reserves for items not related to the reserves. It's a catch all line item. Show up clear as day on the general ledger though.
Please login to post a reply (click Member Login on the menu).



Get 2 months of free community web site hosting from Community123.com!



News Articles Provided by: Community Associations Network
News, articles and blogs about condos/HOA's

Only members have access to all features.
Click here to join HOATalk for Free! Members click here to login and access all features.







General Legal Notice:  The content of forum messages are from the posting member and have not been reviewed nor endorsed by HOATalk.com.  Messages posted by HOATalk or other members are for informational purposes only, are not legal or professional advice and do not constitute an attorney-client relationship.  Readers should not act upon this information without seeking professional counsel.  HOATalk is not a licensed attorney, CPA, tax advisor, financial advisor or any other licensed professional.  HOATalk accepts ads from sponsors but does not verify sponsor qualifications nor endorse/guarantee any sponsor's product or service.
HindmanSanchez Legal Notice:  (For messages posted by HindmanSanchez) This message has been prepared by HindmanSanchez for informational purposes only and does not constitute legal advice. This information is not intended to create, and receipt of it does not constitute an attorney-client relationship. Members of HOATalk.com should not act on this information without seeking professional counsel. Please do not send us confidential information unless you speak with one of our attorneys and get authorization to send that information to us. If you wish to initiate possible representation, please contact an attorney in our firm. Our attorneys are licensed to practice law in the state of Colorado only.

Legal Notice For Messages Posted by Sponsoring Attorneys: This message has been prepared by the sponsoring attorney for informational purposes only and does not constitute legal advice. This information is not intended to create, and receipt of it does not constitute an attorney-client relationship. Readers of HOATalk.com should not act on this information without seeking professional counsel. Please do not send any sponsoring attorney confidential information unless you speak with the sponsoring attorney or an attorney from the sponsoring attorney’s firm and get authorization to send that information to them. If you wish to initiate possible representation, please contact an attorney in the firm of the sponsoring attorney. Sponsoring attorneys that post messages here are licensed to practice law in a specific state or states as indicated in their message signature or sponsor’s profile page. (NOTE: A ‘sponsoring attorney’ is an attorney that is a HOATalk.com official sponsor and is identified as such in the posted message or on our sponsor page.)

Copyright HOA Talk.com, A Service of Community123 LLC ( Homeowners Association Discussions )   Terms Of Use  Privacy Statement