CALIFORNIA – AB 968 would shift costs to individuals in homeowner associations  AB 968 would shift costs to individuals in homeowner associations
Assembly Bill 968 appears to create a new level of assessments to be levied against owners, the failure to pay resulting in foreclosure.
Real EstateEconomy, Business and Finance
July 27, 2014

Question: We have a townhouse that is part of a homeowner association. We’re on a very limited fixed income and can barely afford paying our monthly dues. We’ve just heard that the law is changing to make owners pay for their own maintenance for exclusive use areas. What is that legislation and how will it affect us? Is there something homeowners can do?

Answer: Town home, condominium, detached or attached homes — it matters not. Making its way through California’s Legislature is Assembly Bill 968, which could open the flood gates for expanding the responsibilities and monetary obligations of owners for their own units as well as any “exclusive use common area.”

The bill seeks to rewrite Civil Code section 4775, which directs who pays to maintain, repair and replace in various areas at residential developments governed by homeowner associations. Read more:

Posted on July 27, 2014, in Uncategorized. Bookmark the permalink. Comments Off on CALIFORNIA – AB 968 would shift costs to individuals in homeowner associations.

Comments are closed.

%d bloggers like this: