On September 12, 2019, our office published a blog explaining the new FHA Condominium Approval Rules that became effective on October 15, 2019, which includes the single-unit approval process. The purpose of these new rules was to create more opportunity for individual condominium owners to obtain FHA insured mortgages....
Blog
Published
Master or Sub: Which Rules Do I Follow? by: Brian L. Shaw
Far too often an association’s board of directors has a hard enough time getting prospective purchasers (or long-time owners for that matter) to understand what it means to live in a deed-restricted community. Just getting people to read (and hopefully understand) the governing documents is quite the challenge. However,...
Published
Signature Cards Must Be Up To Date By Peter M. O’Grady, Esq.
Signature cards are used by banks to verify that the party using an account actually has authority to use the account. These accounts include, but are not limited to, the association’s operating accounts, reserve accounts, certificate of deposit accounts, and money market accounts. One of the more commonly missed...
Published
Does the association have the power to require owners to provide the name, address, and phone number of tenants? By Erika R. Finley, Esq.
On this topic, the law is different for condominium associations and home owner associations. Ohio Revised Code 5311.09 requires condominium owners to provide contact information regarding both themselves and tenants of the condominium to the board. Specifically, the statute requires owners to report the following information: The owner’s physical...