by Raymond Daniel Burke | Oct 27, 2014
Thanks to all of the members of the Chesapeake Region Chapter of the Community Associations Institute who helped make the 2014 Annual Symposium & Expo a well- attended success. Ober Kaler was proud to serve as an event sponsor, and to also sponsor a bus so that Eastern Shore members could attend the October 21 event at Martin’s West in Baltimore County. Special thanks to all those whos stopped by the Ober Kaler table and discussed this blog.
by Raymond Daniel Burke | Oct 14, 2014
Under Section 11-110 of the Maryland Condominium Act, in the event of a foreclosure of a mortgage or deed of trust on a condominium unit, a portion of the condominium’s lien for unpaid assessments has priority over the holder of a first mortgage or first deed of trust recorded after October 1, 2011. That portion must consist of no more than four months, or the equivalent of four months, of unpaid regular assessments for common expenses, and may include interests, costs of collection, late charges, fines, attorney’s fees, special assessments, or any other costs or amounts due. However, the total may not exceed $1,200.
by Raymond Daniel Burke | Oct 1, 2014
Where a residential condominium expenditure results in an assessment increase that exceeds 15% of the amount contained in the adopted budget, the expenditure must be approved in an amendment to the budget, except in cases where the expenditure is required to address a threat to health or safety, or a significant risk of damage to the condominium. Under Section 11-109.2 of the Maryland Condominium Act, the council of unit owners is required to submit an annual budget to the unit owners at least 30 days prior to its adoption, and the adoption of the budget must then occur at an open meeting of the owners. Thereafter, any expenditure that would result in an increase in the amount of assessments for the current fiscal year that is in excess of 15% of the budgeted amount must be approved in an amendment to the budget adopted at a special meeting of the owners. Written notice of the special meeting must be given to the owners at least 10 days prior to the meeting date. There is an express exception for expenditures needed to correct conditions that constitute a threat to health or safety, or present a significant risk of damage to the condominium if not corrected. (more…)
