Q: We have a dispute with two partners over a Tenancy-In-Common agreement related to a condo unit we own jointly.
Our TIC requires unanimous agreement for any funds spent from a “reserve” account. We had a subsequent meeting in 2014 with all partners and agreed to spend $500 per year from the reserve account on small improvements. We did that 2014-2016. In 2017 we didn't spend any reserve money because the reserve balance was less than $1,500. Our partners (who are related) now refuse to reimburse us for 2018 purchases made from the reserve account. Our agreement requires we resolve disputes through arbitration.
I'd like to know how much arbitration will cost, how I select an arbitrator in Concord California and how I start the process.
A: Some agreements require mediation first. In mediation each part pays his own expenses. In Arbitration, unless the contract specifies otherwise, the same applies. Costs? Better consult a Concord arbitrator. Google the requirement for a Concord area arbitrator, and also check the local bar association, usually XXXX County Bar Association for referrals.
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