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Subject: Right to copies of documents from Management
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Author Messages
CharooM1
(New Jersey)

Posts:15


01/12/2018 9:32 AM  
My Board of Directors has deemed it necessary to take out a total loan of 2.1 million. They never told us homeowners they were adding 800,000+ to initial loan and now it is a total of 2.1M. At open meetings their answers are vague and us owners never know what is going on. The Management company representative gives vague and false statements and answers to our questions as well. I have documented proof of this. In agreement with other owners, I have requested a list of copies of documents from management, such as closing papers of loans, its application, the projects and amounts listed for necessity of initial plus additional loan, past audits, contracts and prosals from laundry vendor since 1997, etc. Management rep first did not want to provide, now he says we can go to his head office to just "view" the documents. Don't we, as owners, who put our faith in the Board to do right by us, have a right to hard or even electronic copies of these past papers?

They have so much to hide and that is why Now we are asking for copies. Incidentally, the management rep's office is close, and head office is two hours away!

Please advise of our rights.
TimB4
(Virginia)

Posts:15823


01/12/2018 9:16 PM  
Charoo,

Welcome to the forum.

To know your rights, you need to read your governing documents and applicable statutes (laws).

Typically, members have the right to inspect the documents (i.e. view) during business hours.
You didn't specify if you were in a condominium or not. Therefore, I offer the following:

Per NJ Horizontal Property Act: Said books and the vouchers accrediting the entries made thereupon shall be available for examination by all the coowners at convenient hours on working days that shall be set and announced for general knowledge.


Per NJ Condominium Act: [The Association shall maintain records] open to inspection at reasonable times by unit owners.


Keep in mind that copies can be made when viewing - you likely have a cell phone that takes photos.
TimB4
(Virginia)

Posts:15823


01/12/2018 9:20 PM  
Oops, duplicate question.

Please provide answers in the following thread:

http://www.hoatalk.com/Forum/tabid/55/forumid/1/postid/240012/view/topic/Default.aspx
CharooM1
(New Jersey)

Posts:15


01/13/2018 1:02 PM  
Dont worry, I just figured out how to get to both...lol. Thank you! Very useful !!
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