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RuthL2 (California)
Posts: 2
Posted:
Our CC&R's were revised and the section and attachments that specified allocation of assessments were left out. For over 20 years, annual disclosure of % of assessment for each unit was not disclosed,until our new management company took over. The owners then became aware that they were being incorrectly assessed. Since the Revised CC&R's mention an attachment that was attached to the original CC&R's we reverted to the 1st recorded attachment to do a recalculation. One of the two units who now would pay more have retained an attorney and are threatening to sue. Does E&O insurance cover this situation? and what is covered? Thanks!
RogerB (Colorado)
Posts: 5,067
Posted:
Ruth, your insurance Agent can address what coverage your HOA has. I would guess there is coverage. If the amendment did not change the percentage then the original CC&Rs apply.

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