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Expired HOA

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SVW

Junior Member
What is the name of your state (only U.S. law)? Utah
An HOA expired in 2006 and 91% of the building has been foreclosed by the lender as of 06/09. The lender has started a new entity to assign their 91% ownership. That entity with with no HOA renewed, nor following the directives of the past bylaws has spent nearly $200k in the past two months. With no warning now the entity is sending invoices and is preparing to spend $700k more. The questions- Are the 9% on the hook for what this entity is spending? Would the old bylaws be effective? Is their a conflict of interest going on here?What is the name of your state (only U.S. law)?
 


SVW

Junior Member
What is the name of your state (only U.S. law)? Utah
An HOA expired in 2006 and 91% of the building has been foreclosed by the lender as of 06/09. The lender has started a new entity to assign their 91% ownership. That entity with with no HOA renewed, nor following the directives of the past bylaws has spent nearly $200k in the past two months. With no warning now the entity is sending invoices and is preparing to spend $700k more. The questions- Are the 9% on the hook for what this entity is spending? Would the old bylaws be effective? Is their a conflict of interest going on here?
 

Some Random Guy

Senior Member
How did the old HOA expire? How did the "new entity" get formed? Are there resticitve covenants attached to the deeds and were the other owners notified of meetings, elections, etc.

Has anyone contacted the lender about these actions and their intentions? How do you know what has or will be spent?
 

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