Ah, it’s so good when you see member of the real estate industry who finally discovers that all is not good in HOA Amerika! I hope he continues his research. He’s going to be stunned!
Yikes! How can I say that having two brothers who are lawyers? And how can I say that after passing the LSAT and being offered a free ride through the University of Washington Law School?
I can say that as a forty-year journalist watching lawyers in court. Never trust a lawyer.
In the link below, a CAI lawyer has tried to simplify the ‘education’ process for prospective buyers. It’s a good step forward. But I like Nila Ridings idea of making all HOA home buyers sign an acknowledgement that each buyer isn’t really buying a home. He or she is buying shares of stock in a non-profit corporation where every single asset, every bank account, every stock account, every college education account is pledged as security to pay for each and every misdeed, miscalculation, embezzlement and lawsuit involving the HOA.
Could this have been better handled?
Madonna may decide her uppity New York co-op neighbors aren’t worth the rent. She’s suing because the co-op board doesn’t want Madonna’s kids or domestic help staying there when she isn’t physically in the building.
In the story linked below, I don’t read that she’s suing for racial discrimination, but I’d bet my last dollar that’s going to be a central point of her lawsuit. Some white folks just don’t like it when people of color are around. That’s how the whole HOA movement got started in the first place. Don’t believe me? Go look in the title history of your property deed!
The Nation’s news media are late to the table in discovering the national scam known as Homeowner Associations. One of the early ‘discoverers,’ though, was ABC News, although their first story was a little tepid. It’s linked below.
But the news agency kinda, sorta hinted that simple rules violations by homeowners could cost up to six figures before things get straightened out. Six figures? Some sad homeowners have spent more than a million dollars trying to straighten out an idiotic problem. Since HOAs are invariably backed by a huge insurance policy they just love for a homeowner to sue. It’s more satisfying than sex! The homeowner files suit, the HOA’s insurance policy kicks in and these criminals who run the HOA get a free ride while their insurance company tries to stretch the case out while whittling the homeowner’s life savings away.