A condo termination, also known as a condominium deconversion, refers to the process where a condominium association legally dissolves. Condo terminations occur for several reasons including economic factors, aging infrastructure, or the desire of unit owners to capitalize on real estate market conditions.
The specifics of how a condominium termination is carried out can vary based … Read More ›
KSN is proud to introduce Brainy Board – a streaming service and educational resource for new and experienced board members throughout the country.
Brainy Board provides on-demand access to videos addressing condominium, homeowner (HOA), and townhome community association concerns and legal issues.
To create your free Brainy Board account today and start watching our library of on-demand videos, … Read More ›
“Understanding Condominium Deconversions” – KSN attorney Omar Malik discusses the condominium deconversion trend and challenges presented by these large-scale sales. Topics include board member responsibilities, the property manager’s role, legal challenges, best practices and more. Omar also reviews KSN’s experience with handling over ninety deconversion transactions. (52 mins.)
The KSN Podcast examines various aspects of association … Read More ›
21 Kristin Drive Condominium Association was sold for over $63 million on June 3, 2022. The 359-unit condominium building is located in Schaumburg, IL at the corner of Kristin Drive and Roselle Road.
The sale of all units, commonly known as a deconversion sale, was approved by a vote of the unit owners under Section 15 … Read More ›