In this checklist, we delve into a variety of important issues impacting condominium, homeowners (HOA), and townhome community associations. By examining these pivotal areas, we hope to empower board members, community leaders, and property managers with the knowledge and tools to navigate the evolving landscape of effective association management.
To organize this checklist, we’ll use the … Read More ›
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 ›
A U.S. District Court judge in Alabama recently ruled that the Corporate Transparency Act (CTA) is unconstitutional. The CTA, enacted on January 1, 2021, directs the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) to establish a nationwide database of beneficial ownership of certain corporations and other legal entities, including condominium, homeowner (HOA) and … Read More ›
Cook County properties are reassessed on a triennial schedule. Every three years, the new valuations – along with appeals, exemptions, local tax levies, and assessments of nearby properties – determine the amount of future property tax bills.
For the purposes of reassessment scheduling, the thirty townships within Cook County are divided into three groups:
North/northwest suburbs
South/southwest suburbs
City … Read More ›