UCC codes NY

What is the name of your state? NY

We are a condo located in NY with 80 units. Recently we found out our management company has $565,000 outstanding tax leins and judgements againt the company, listed in the UCC public records of NY. We only started researching when the owner transfered ownership to his daughter in Jan. and did not tell any of our groups in the Association this was happening. He also has personally lost his home to a tax sale. Our condo attorney sees no problem with this.
Should we be concerned and how do these codes affect his business and us?
Our reserve fund has dropped from 185,000 to 25,000 in 4 years.
(boards mis-management also)
I would not want someone manageing my checkbook and business with these problems. Our attorney says he is insured??
I am new to the board but half the board likes this management company?
Also there are two warrants against the company.
The owner is addressing our board at the next meeting-is there any specific questions we should ask him?
Any direction, please help direct us.
Windridge Voice

[HomeGuru]

Originally posted by windridge voice
What is the name of your state? NY

We are a condo located in NY with 80 units. Recently we found out our management company has $565,000 outstanding tax leins and judgements againt the company, listed in the UCC public records of NY. We only started researching when the owner transfered ownership to his daughter in Jan. and did not tell any of our groups in the Association this was happening. He also has personally lost his home to a tax sale. Our condo attorney sees no problem with this.
Should we be concerned and how do these codes affect his business and us?
Our reserve fund has dropped from 185,000 to 25,000 in 4 years.
(boards mis-management also)
I would not want someone manageing my checkbook and business with these problems. Our attorney says he is insured??
I am new to the board but half the board likes this management company?
Also there are two warrants against the company.
The owner is addressing our board at the next meeting-is there any specific questions we should ask him?
Any direction, please help direct us.
Windridge Voice

**A: file a writen request for the HOA to vote to change the management company or follow the procedure in the condo docs to do so. Talk to other unit owners and get them to agree to hire your own attorney to kick the HOA attorney out. THe HOA has some serious issues and it is time to clean house.

Are UCC Codes strictly what they say -tax leins and judgements is there any other reason a company would have these?

We can replace the attorney he is not on retainer and the management company cannot find their contract and our board cannot find it either. Good for homeowners. Our Documents leave the vote to the board unless we have to call a special meeting tof unit owners to request the board do this.
Thank You so much for responding.

[HomeGuru]

[quote]Originally posted by windridge voice
[b]Are UCC Codes strictly what they say -tax leins and judgements is there any other reason a company would have these?

**A: yes, UCC is a complicated subject and this forum is not the proper venue to discuss this issue. Conduct a general "google" type search.
******

We can replace the attorney he is not on retainer and the management company cannot find their contract and our board cannot find it either. Good for homeowners. Our Documents leave the vote to the board unless we have to call a special meeting tof unit owners to request the board do this.
Thank You so much for responding.

**A: then proceed post haste.

Thank You So much for the Help
It has given me the need direction.

[HomeGuru]

You are welcome and good luck.