Des Plaines, IL asked in Real Estate Law for Illinois

Q: What to do , if the Condo Association claims that the Management company stole $600000 money from the reserve account .

Now the Association claims that we have no money at all . Is it possible for the Association not to have access to all of the accounts that we had .

How do we resolve this issue?

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1 Lawyer Answer
Erik K Jacobs
Erik K Jacobs
Answered
  • Rockford, IL
  • Licensed in Illinois

A: Wow - this is a scary situation. I hope that the Board has contacted the authorities AND its own attorney to look into this allegation. $600,000 doesn't just evaporate overnight.

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