A Word on Condominium Insurance…Trust Us, It’s Important.
March 1, 2015
We are often asked what the most overlooked issue for a condominium association is. Insurance. The insurance provisions in a condominium’s master deed and how they interact with the maintenance and repair provisions are exceedingly important. For example, if a main water riser in a high-rise condominium bursts causing water damage in both common elements…
READ MORE2015 Legislative Update II — SB 1079
February 24, 2015
In addition to the proposed Tennessee Homeowners Association Act (HB 610/SB 405), the Tennessee legislature is currently considering SB 1079. It was also introduced on February 11, 2015. This legislation imposes certain reporting guidelines on homeowners associations. Since the proposed legislation defines as “Unit” as including an unimproved lot, it presumably does not apply to…
READ MORE2015 Legislative Update — the Proposed Tennessee Homeowners Association Act (HB610/SB405)
February 20, 2015
This year, the Tennessee Legislature is considering the Tennessee Homeowners Association Act (HB 610/SB 405). It was introduced on February 11, 2015. As yet, we have not had an opportunity to digest the proposed Act in its entirety. That being said, it appears to be a solution looking for a problem. While there is no…
READ MOREAnother Reason Not to Opt into the Tennessee Condominium Act…
February 14, 2015
As has been discussed before, the Tennessee Condominium Act is an odd statute. It both does and does not apply to all condominium developments in Tennessee. If a condominium development was created (i.e., its master deed or declaration properly recorded) after January 1, 2009, then such development is governed by the entirety of the Tennessee…
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