News & Analysis as of

Condominium Associations Fiduciary Duty

Ward and Smith, P.A.

Who Wants to be a Director? Understanding Community Association Board Member Fiduciary Duties

Ward and Smith, P.A. on

The law provides that nonprofit corporations, including community associations, must "act" through their board of directors. The board of directors is (typically) made up of community members who volunteer to serve as...more

Balch & Bingham LLP

In ‘Case’ You Missed It: Alabama Supreme Court issues opinion clarifying the rules controlling nonprofit corporation governance

Balch & Bingham LLP on

If you have ever been to the Flora-Bama, chances are you have passed by the Caribe Resort in Orange Beach, AL. The Caribe, like many beach resorts, is a condominium building containing individually owned residential units...more

Lowndes

Selecting a Property Manager

Lowndes on

Property managers play a significant role in commercial real estate operations. With thousands of property managers to choose from, finding a suitable one may be daunting. This article addresses some of the factors to...more

Ward and Smith, P.A.

Call of [Fiduciary] Duty: How Good Faith, Due Care, and Loyalty Guide Community Associations' Boards

Ward and Smith, P.A. on

Nearly 30 percent of North Carolina's population lives in a community association of some sort, be that a condominium or single-family community. Yet, confusion among the general population about the nature of community...more

Ward and Smith, P.A.

When a Condominium Falls Down

Ward and Smith, P.A. on

Buildings do not last forever. Eventually, gravity and time will prevail over concrete, steel, wood, and glass. The risks associated with that life span are captured well in transactions related to single-family homes and...more

Levenfeld Pearlstein, LLC

The Palm II Court Decision Cracks Down On Condominium Boards

On March 21, 2014, the Illinois Appellate Court entered a Rule 23 Order in Palm vs. 2800 Lake Shore Drive Condominium Association ("Palm II"). A Rule 23 Order may not be cited as precedent in other cases in Illinois courts,...more

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