Expect a ton of money to be poured into the pockets of Massachusetts legislators over the next week. What’s up? The State Senate has agreed to a ‘common sense’ bill to order condo associations to pay the legal costs of homeowners who have to sue to get financial records.
A homeowner has an absolute right to see the association’s financial documents, budgets and insurance policies. It’s basic common sense, especially for homeowners who are trying to sell their homes and move out. Mortgage companies require it. The current law mandates that those records be made available. But there’s no penalty for corporate deviants who decide they’re above such puerile requirements.
The current problem is that the bill is stalled. If the Massachusetts House doesn’t get off its collective rear end, or if a lobbyist in a legislative hallway waves a few thousand bucks around, this bill may fail due to official disinterest.