Paid assessment letter

Started by AlmirD • 6 replies • 4733 views

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AlmirD (Illinois)
Posts: 5

Posted:

Hi, we are self managing condo association and one unit is about to be sold. Attorney is asking for paid assessment letter. Is this something that board can write if the seller does not owe any assessment money.

English is not my first language and I have hard time understanding legal terminology,

Is there a template that we can download for paid assessment letter? Is that letter simply stating that the owner does not owe assessment or there is more to it?

Thank you so much in advance for any help.

MelissaP1 (Alabama)
Posts: 13,836

Posted:

Do you have an accountant? They should be able to produce a letter or look at the ledger to prove no back dues are owed. Now keep in mind that new dues are going to be due when the new owner takes over. Which should be noted that date.

Former HOA President

LetA (Nevada)
Posts: 2,679

Posted:

Typical HOA's have at least 3 BOD's Pres, VP & Secretary. this is something that the secretary handles. Your letter can follow a simple business formal format, you can see those with a simple google search for business formal letter example. You letter can simply be one or two sentences that all assessments are current and the owner is a member in good standing.

DouglasK1 (Florida)
Posts: 2,046

Posted:

In Florida it is pretty standard to provide this information, here it is called an estoppel letter or certificate. Usually the requester provides a blank form for us to fill out. Some just ask if any assessments are due, others ask for more. At the very least I would note when the next payment is due and how much it is.

I've taken one example and uploaded it to:
https://drive.google.com/file/d/1vg3_ppWfgjlUSXkItmVD1c9cZpA3ZUzh/view?usp=sharing

Feel free to use as much or as little of this as you would like.

We are also self managed and the treasurer completes the form and returns it since the treasurer is the one with the relevant information. Typically the treasurer sends an email to the rest of the board and to the ARC to see if anyone is aware of any violations to note.

Make sure your information is accurate since this is legally binding once sent.

Escaped former treasurer and director of a self managed association.

TimB4 (Tennessee)
Posts: 21,061

Posted:

Simple letter for sellers

Sir,

This is in rewards to a request for [address]

Per Assocaition records, the account is current through mm/dd/yyyy.
The next payment will be due on mm/dd/yyyy and considered late if not received by mm/dd/yyyy

Payments are $xx.xx per month/yr

If you have any questions, please contact me.

Name, Treasurer
Name of Association
Email
Phone

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Quote:

Posted By TimB4 on 03/18/2018 7:44 AM
Simple letter for sellers

Sir,

This is in rewards to a request for [address]

Per Assocaition records, the account is current through mm/dd/yyyy.
The next payment will be due on mm/dd/yyyy and considered late if not received by mm/dd/yyyy

Payments are $xx.xx per month/yr

If you have any questions, please contact me.

Name, Treasurer
Name of Association
Email
Phone

This should suffice. I like the addition/clarification of dues and dates due.

AlmirD (Illinois)
Posts: 5

Posted:

Great answers, thank you all for your help it helps me a lot. This is amazing site.

Whish you all nice rest of the weekend!

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