On June 24, 2021, tragedy struck at the Champlain Towers South in Surfside, Florida.
Families and individuals in Surfside, Florida are mourning the tragic loss of many residents of a condo building in Florida that tragically collapsed on the night of June 24. Engineers and real estate experts claim the collapse was due to a collective failure to manage risk and keep building structural repairs up to date.
And while the specific reason of the collapse is still being investigated, there’s a clear lesson buried along with the rubble of this disastrous event. Homeowners are now questioning the sturdiness and structural safety of their own condominiums.
In the aftermath of this tragedy, people are now asking themselves if their own homes are safe to live in. When you pay a homeowner’s association (HOA) fee to keep things in check, you’d assume that includes handling anything that needs repairs, right?
They should. And they should be consistently studying how much to put away and reserving funds in order to accomplish large projects and updates regularly. But it’s also your job to do your due diligence and make sure your fees are getting used properly.
While homeowners typically view lower HOA fees as a great thing, it’s important to remember that the fees exist for a reason. They cover important costs to plan for and counter expensive deterioration, like structural repairs and improvements to the buildings. Low fees could indicate that funds are getting allocated for important issues like structural or safety inspections and repairs.
Having to review detailed documents can be a stressful task, especially on top of all the other things on your to-do list when buying a home.
LegalShield provides you access to a real estate lawyer who is familiar with the laws in your state and can go through and break down these documents with you.
Dealing with a difficult neighbor? Check out our tips to handle disputes with bad neighbors.
Written and maintained by the LegalShield content team, covering legal and identity protection topics for individuals, families, and small businesses.
Yes, an HOA can foreclose on your house. If you fall behind on dues, it can put a lien on the house and, depending on your state, sell it, sometimes without a judge. Losing the house doesn't erase your mortgage, so you can still owe the bank. If you get a lien or foreclosure letter, call a lawyer that day.
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There’s no rule that says a lawyer has to set up your Trust for it to be valid. However, Trusts are complex and doing it yourself without a lawyer's help comes with risks.
A Certificate of Trust proves your Trust is real and names who can act for it, while your beneficiaries and assets stay private. It lets your Trustee handle Trust business, like opening accounts or transferring property.
A limited power of attorney often comes in handy when you need help for a short time or for a single purpose. This legal document can help in situations like when you’re traveling, serving in the military, caring for an aging parent, or sending a child to study abroad.
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