Q: I purchased a condo February 2018, and the HOA just notified all home owners that they have to pay an assessment
for damages that occurred in 2017. Shouldn't the prior homeowner have to pay this? I knew nothing about it when purchasing. Thank you, Christine
A:
Dear Colorado Condo Purchaser: You've asked if your Seller "needs to pay for assessment for issues that occurred [while the Seller owned the condo unit] in 2017". There is a two-step process to answer the query. First: insofar as the Seller of a condo is required to supply you with disclosures related to prior HOA repairs/damages/litigation and is required to provide you with the financial health (i.e. any pending assessments ?) of the HOA, then the first level of analysis is: was this information disclosed to you. Second: in the event you bought the condo in a "normal course" (see disclosure requirements of a normal course transaction, above), and in the event the prior damage/repair and pending assessments were not disclosed, then you may have a colorable claim for FAILURE TO DISCLOSE. The damages for the Seller's failure to disclose would arguably include the assessment that your unit is now faced with paying. Additional Note: do not let the assessment linger, as these turn into liens and fines rather quickly. I think you should examine your sales transactions closely to determine the Seller's disclosure or lack thereof, and then lodge a Legal Demand with the Seller.
JIM GREER is an attorney licensed to practice in CO and CA and has specialized in real estate transactions for the past 30 years; nothing herein shall be construed as the offering of legal advice insofar as Mr. Greer is not in an attorney-client capacity with the inquiring party.
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