Retired Chicago condo owners could soon lose their home to deconversion

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By Deborah Goonan, Independent American Communities debgoonan@icloud.com Less than 2 years after they decided to retire in their Chicago condo, Eddie and Colleen Soto were shocked by news of a vote to sell the building to investors for a deconversion. The Sotos have owned their condo a 2 East Oak since 2008. Except for the year they rented their unit to a colleague, they enjoyed their Windy City condo on weekend getaways from their hectic Continue ReadingRetired Chicago condo owners could soon lose their home to deconversion

NJ Court: Lake Parsippany Easements obligate homeowners to pay POA fees

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By Deborah Goonan, Independent American Communities   On October 7, the Superior Court of New Jersey, Morris County, ruled that the Lake Parsippany tract of homes forms a common interest community, as defined by NJ statute. Furthermore, as Justice Stuart A. Minkowicz wrote in the court’s opinion, homeowners enjoy the benefits of living near the lake, as granted by easements in their property deeds. Attorneys for LPPOA conducted a search of 25 titles of homes Continue ReadingNJ Court: Lake Parsippany Easements obligate homeowners to pay POA fees

Chicago condo owners act to prevent forced condo deconversion

By Deborah Goonan, Independent American Communities According to local reports, the residential tower at 21 E. Chestnut was constructed as apartments in 1962, and converted to condominiums in 1979. Four decades later, the process has come full circle, with a pending deconversion to apartments. Earlier this month, 92% of owners in the 163-unit condominium building at 21 E. Chestnut St. voted in favor of a $44 million buyout by Strategic Properties of North America.  The Continue ReadingChicago condo owners act to prevent forced condo deconversion

Arizona & Nevada HOA legislative updates (October 2019)

By Deborah Goonan, Independent American Communities Debgoonan@icloud.com Arizona enacts three new laws affecting rights of homeowners, for better or for worse. Nevada makes it illegal for HOAs to prohibit a homeowner from keeping a pet. Read on for details. Arizona This year, Arizona Homeowners Coalition (AZHOC) followed eight bills affecting homeowners, condominium, and cooperative associations. Three of those bills are now state law. While AZHOC did not introduce any of these bills, the organization did Continue ReadingArizona & Nevada HOA legislative updates (October 2019)