Condo Law Watch

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New Standardized Condo Project Questionnaires Provide Greater Consistency & Clarity for Lenders

In an effort to provide greater consistency and clarity for mortgage lenders as they work to collect information to determine eligibility for mortgages secured by units in condominiums, government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac recently released two standardized… Continue Reading →

New in 2016: The Condominium and Common Interest Community Ombudsperson Act

In an effort to educate condominium associations, unit owners and common interest groups, while still accounting for the complex responsibilities that accompany those roles, the Illinois General Assembly created the Condominium and Common Interest Community Ombudsperson Act. Effective July 1,… Continue Reading →

Tressler LLP Re-Launches Condo Law Blog

Tressler LLP is pleased to announce the re-launch of Tressler’s condo law blog with a new name, Condo Law Watch. To keep up with the changing digital landscape, Condo Law Watch will replace the firm’s traditional e-newsletter Condominium & Common… Continue Reading →

Illinois Appellate Court Invalidates Condominium Leasing Cap From Rules and Regulations

For years, associations have adopted different forms of leasing restrictions. In many instances, those restrictions were adopted to combat decreased owner-occupancy rates in order to keep the condominium eligible as a HUD-approved condominium project, which allows owners and buyers to… Continue Reading →

2016 Brings New Legislative Changes For Condominium Associations

As we kick off 2016, it is important to bear in mind the legislative changes directly impacting condominium associations that will become effective this year, specifically June 1, 2016. Certain amendments will impact not only when key association meetings may… Continue Reading →

Must Owners Know When and Where Board Meetings Will Be?

Yes. Condominium and Common Interest Community Association must provide notice to all owners of any meeting of the board. This includes open or closed sessions. Notice may be sent or delivered to the owners in accordance with the various acts… Continue Reading →

May We Pay Members of Our Board of Directors for Our Condominium Association?

Generally, unless it is precluded by the declaration of bylaws for an association, there is no direct prohibition in the Illinois Condominium Property Act that would preclude an association from paying its directors for their service. However, any such compensation… Continue Reading →

May Two Owners From One Unit Serve on the Condominium Board Together?

No. In the event that more than one owner owns a unit, only one owner from that unit may serve at one time as a board member.

What Should We Do If Our Condominium Association Does Not Have Bylaws?

Generally, your condominium association likely has minimum bylaw terms in its declaration. In the event that it does not have minimum bylaw terms in its declaration, the Illinois Condominium Property Act Section 18 provides those minimum bylaw terms as a… Continue Reading →

May Condominium Associations Obtain Title to Delinquent Owners’ Units When They do Not Pay Assessments?

Yes. Illinois Condominium Associations may file liens against the title to an owner’s unit when that owner does not pay assessments due on the lien. The association may then proceed to court and seek to foreclose this lien. Once the… Continue Reading →

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