D&O E&O Monitor

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Must owners know when and where board meetings will be?

Yes. Condominium and Common Interest Community Associations must provide notice to all owners of any meeting of the board. This includes open or closed sessions. Notice must me be sent or delivered to the owners in accordance with the various… Continue Reading →

May we pay members of our board of directors for our condominium association?

Generally, unless it is precluded by the declaration of bylaws for an association, there is no direct prohibition in the Illinois Condominium Property Act that would preclude an association from paying its directors for their service. However, any such compensation… Continue Reading →

May two owners from one unit serve on the condominium board together?

No. In the event that more than one owner owns a unit, only one owner from that unit may serve at one time as a board member.

What should we do if our condominium association does not have bylaws?

Generally, your condominium association likely has minimum bylaw terms in its declaration. In the event that it does not have minimum bylaw terms in its declaration, the Illinois Condominium Property Act Section 18 provides those minimum bylaw terms as a… Continue Reading →

May condominium associations obtain title to delinquent owners’ units when they do not pay assessments?

Yes. Illinois Condominium Associations may file liens against the title to an owner’s unit when that owner does not pay assessments due on the lien. The association may then proceed to court and seek to foreclose this lien. Once the… Continue Reading →

Is it right for our condominium association to be taxed on a pool, clubhouse, or green space that is part of the association’s common elements?

Generally, no. The Illinois Revenue Act requires that County Tax Assessors not tax common elements of a condominium association separately or in addition to the taxes that are assessed against the individual units. Condominium association units are considered percentage in… Continue Reading →

How do people know when a prior owner’s assessments are paid when they purchase a condominium unit?

At any time that a condominium unit transfers ownership the seller or the buyer are required to settle up the prior owner’s balance of assessments. If they do not, the new owner becomes responsible for the remaining balance due from… Continue Reading →

What is a limited common element?

In a condominium association, there are common elements, which are the general portions of the property that include the supporting structures and enclosing structures around a unit, exterior elements, and outside space, and then there are units which are the… Continue Reading →

How do I know what type of association our association is?

Sometimes, an association may not know whether it is subject to certain specific state acts like the Illinois Condominium Property Act or the Common Interest Community Associations Act. The first place to start is to look at the declaration recorded… Continue Reading →

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