PA condo law

Started by StacyS • 1 replies • 2079 views

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StacyS (Florida)
Posts: 19

Posted:

I own a condo in PA. The condo association is still under control of the developer because it still owns 67% of the plats. Are the developers required to give a total accounting of the capital reserve fund? Currently we get an annual balance sheet. It only gives the annual reserve fund amount & not the total amount of the reserve fund.

JohnM48 (Pennsylvania)
Posts: 89

Posted:

I have not reviewed the PA Condo laws, but there is no such requirement in the PA Uniform Planned Communities Act (related to HOAs not COAs).

At the time the declarant transfers control to the homeowners, full and complete, audited records must be provided, but not during the period of declarant control.

You can review the PA Uniform Condominium Act here: http://www.pacondolaw.com/statutes_uca1.html

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