qacrawler
07-05-2006, 01:35 AM
Biennially, each association of apartment owners or condominium project with six or more apartments (7 or more if created before May 29, 1963) are required to pay the DCCA (Department Of Commerce And Consumer Affairs) $4.00 per apartment into the CEF.
The Commission administers this fund for educational purposes. Educational purposes include: education and research in condominium management, condominium registration, and real estate for the benefit of the public and those required to be registered; the improvement and more efficient administration of condominium associations; and expeditious and inexpensive procedures for resolving condominium association disputes.
Failure to pay the required fee by the due date, results in a penalty assessment of ten percent of the amount due, and the AOAO does not have standing to bring any action to collect or to foreclose any lien for common expenses or other assessments in any court of this State until the due amount and penalties are paid.
Can the Real Estate Commission step in to resolve disputes between owners and the association, owners and the board, owners and the managing agent, or disputes between owners?
The Commission administers this fund for educational purposes. Educational purposes include: education and research in condominium management, condominium registration, and real estate for the benefit of the public and those required to be registered; the improvement and more efficient administration of condominium associations; and expeditious and inexpensive procedures for resolving condominium association disputes.
Failure to pay the required fee by the due date, results in a penalty assessment of ten percent of the amount due, and the AOAO does not have standing to bring any action to collect or to foreclose any lien for common expenses or other assessments in any court of this State until the due amount and penalties are paid.
Can the Real Estate Commission step in to resolve disputes between owners and the association, owners and the board, owners and the managing agent, or disputes between owners?
