when no condo assoc. unit owner's rights

[Gayle60]

Massachusetts: I own a 55 plus retirement condo in a complex that is incomplete where the original builder when bankrupt and was recently bought in an auction by new owners. although only 7 were sold out of the 9 finished units the plan originally called for 22 it was not enough to form a condo assoc.

Of the 7 mine is the only one not owner occupied. We have never had an association but had 15,000 dollars in savings since they were built in 2007 with monthly fees of 200 dollars. The units are all owned by single or widowed women with average age 60-80's yrs. old on fixed incomes.

Recently we were notified that our entire savings 15Kwere spent by the new owners and that we must now pay an additional 550 dollars this summer on top of our condo fees. The former owner was very budget conscious the new owners changed insurance companies and hired higher priced landscaping and snow removal companies, etc. We were unaware they went through our savings and only called a meeting of which I was not notified for even though they have contact info from me to inform us that we need to cover the deficit. Do I have to Pay the 550 dollars extra? without any say in how they are managing the place?What is the name of your state (only U.S. law)?MA

 

[festival]

The original builder must have set up the legal documents to create an owners association. These documents describe the structure and procedures for association meetings, proper notification of meetings, accounting procedures (budgets, keeping the books, etc.), and how to do regular and special assessments. Many declarations require that the owners association start with a balance in the bank. The documents will also contain provisions to turn over the association to the owners when enough units have been sold.

Did the "new owners" buy the legal interests of the original builder so they are functioning as the builder?

You need to look at these documents to find out if the new owners are following all the procedures for proper meetings, notification, voting, and spending money. You also need to look at the books to see how they are spending the money.