happylee, Other/Just Looking in 11235

Fiduciary responsible to inform owners.

Asked by happylee, 11235 Fri Feb 15, 2013

Does the President of a HOA has the fiduciary responsible to inform Owners' of the foreclosures and if any income has been generate from bank owned? A homeowner is demanding that the Association President to disclose this information.

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It all depends on the HOA bylaws are written. The HOA has a fiduciary responsibility to its members, the home owners. Any information that affects the HOA has to be available for the home owners to review if they so desire. Read the HOA by-laws and the CC&Rs. If still in doubt, contact an attorney.
0 votes Thank Flag Link Fri Feb 15, 2013
So this will included whether the banks are paying HOA fees on the units they owned .
Flag Sat Feb 16, 2013
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