What is the name of your state? Michigan
I purchased a condo in February 2007. A month or two after we purchased the condo we thought is was strange that we recieved no bill for our association dues. After contacting the sellers realtor we were told that our neighbor in the attached condo would contact us about the association since he was now taking over thier duties as the Association President. However, we began to check for ourselves the status of the "association." What we learned was that the asscociation was still registered to our new home, no one was handling the association duties and no one had been paying association dues.
To make matters worse, about two weeks ago we learned that an investment company that owned 4 units in our subdivision had gone bankrupt and those units had been foreclosed on. So I contacted the insurance company to ask how that would effect the insurance on the remaining units. At this time I was told that the homeowners insurance policy that should have been held by the association was actually held by the investment company and the policy was cancelled on August 1st. I have been trying to contact the previous owners of our home to ask why were we not informed that the association was not handling our homeowners insurance as it stated in the bylaws. I can't get a response. I don't know if the owners of the condo attached to me has insurance either and they won't respond. My purchase agreement was written contingent upon acceptance of the bylaws and we accepted them under the belief that our Association handled the insurance for all units. Now my costs to insure has gone from $200 a year to $1,100 a year. Since the previous owners were the Association Presidents and knew about the insurance policy, what legal recourse do I have based on their mis-representation of the facts?
I purchased a condo in February 2007. A month or two after we purchased the condo we thought is was strange that we recieved no bill for our association dues. After contacting the sellers realtor we were told that our neighbor in the attached condo would contact us about the association since he was now taking over thier duties as the Association President. However, we began to check for ourselves the status of the "association." What we learned was that the asscociation was still registered to our new home, no one was handling the association duties and no one had been paying association dues.
To make matters worse, about two weeks ago we learned that an investment company that owned 4 units in our subdivision had gone bankrupt and those units had been foreclosed on. So I contacted the insurance company to ask how that would effect the insurance on the remaining units. At this time I was told that the homeowners insurance policy that should have been held by the association was actually held by the investment company and the policy was cancelled on August 1st. I have been trying to contact the previous owners of our home to ask why were we not informed that the association was not handling our homeowners insurance as it stated in the bylaws. I can't get a response. I don't know if the owners of the condo attached to me has insurance either and they won't respond. My purchase agreement was written contingent upon acceptance of the bylaws and we accepted them under the belief that our Association handled the insurance for all units. Now my costs to insure has gone from $200 a year to $1,100 a year. Since the previous owners were the Association Presidents and knew about the insurance policy, what legal recourse do I have based on their mis-representation of the facts?
