Announcements
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Position Statement
Legislative Update
Selected 2024 Legislation Affecting Condominium and
Common Interest/Homeowners Associations Effective January 1, 2025
by
Michael C. Kim
ASCO General Counsel
[NEW] Section 18.12 of Condo Act requires that the board of directors adopt a policy to reasonably accommodate a unit owner who is a person with a disability who requires accessible parking. The board must review and decide upon the unit owner’s request within 45 days. The policy must be adopted by April 1, 2025. This policy must be adopted whether parking spaces are general common elements, limited common elements or parking space units (with individual PIN and percentage of ownership interest), and the board must make “reasonable efforts” to facilitate a resolution between unit owners, even if the association itself does not own or control accessible parking spaces.
COMMENT: A number of associations are already working on such policies even during 2024.
Section 22.2 of the Condo Act has been amended to expressly allow a person who is aggrieved by a violation (namely, the exercise of a right of first refusal, option to purchase or right to disapprove a sale on the basis of the purchaser’s using financing guaranteed by the Federal Housing Administration (FHA)), to bring a lawsuit against the association in the state circuit court.
COMMENT: Not sure that there are significant abuses in such situations, but time will tell.
Corporate Transparency Act, which requires condominium, common interest or cooperative associations organized as corporations to register and report as to the members of the board of directors by January 1 , 2025 has been temporarily blocked by a nationwide preliminary injunction issued by a U.S. District Court in Texas. This action is not a final resolution or determination, so the ultimate outcome remains to be seen.
COMMENT: Stay tuned to see if a legislative resolution by Congress may come into play.
Copyright 2024. Schoenberg Finkel Beederman Bell Glazer, LLC. All Rights Reserved. This article is being provided for general information and does not constitute legal advice. For a specific problem, you should consult an attorney.
