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 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…
READ MORETennessee Condominiums, Lender Foreclosures, and the Six Month Reachback
November 18, 2013
As has been previously mentioned, the Tennessee Condominium Act of 2008, Tenn. Code § 66-27-101, et seq. (the “Act”), applies in certain instances to all condominiums in Tennessee (even those created prior to January 1, 2009), but only with respect to events and circumstances that occur after January 1, 2009. See Tenn. Code § 66-27-202(a)….
READ MOREThe Tennessee Condominium Act of 2008 and Older Condos and the Power to Assess
September 23, 2013
January 1, 2009, was the start of a new era in Tennessee as it saw a new set of laws regarding condominiums come into effect – the Tennessee Condominium Act of 2008, Tenn. Code § 66-27-101, et seq. (the “Condominium Act”). The Condominium Act, generally, applies to all condominiums created after January 1, 2009. A…
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