I am thinking of purchasing a condo. The HOA docs have a list of "Assessments and Mandatory fees you are responsible for". Within that list under it states "Other entity or facility: Line of Credit with BB&T: Balance $183,718.28."
Why would this be listed as something I am responsible for and if the HOA ever went bankrupt, would I along with other tenants, be responsible for this debt?
1 Answer from Attorneys
I would recommend that you contact the president of the condo board
for clarification of these issues. (Any clerk covering the desk at the entrance
to the building should be able to provide you with his or her phone # if it's not
listed with the documents you already have.)
Related Questions & Answers
Can my elderly parent come into a house that he owns, and roams through bedrooms,... Asked 3/15/13, 3:45 pm in United States Virginia Landlord & Tenants
I was evicted from by apartment which really isn't a big deal since my lease is up... Asked 3/03/13, 12:12 am in United States Virginia Landlord & Tenants
I recently moved out of an apartment complex, and just received a bill from them for... Asked 2/28/13, 5:37 pm in United States Virginia Landlord & Tenants
VA: Landlord would not renew lease because they are renovating. We moved to another... Asked 2/22/13, 12:31 pm in United States Virginia Landlord & Tenants
How do i dispute a trespassing order issued to me by by the manager of a complex... Asked 2/20/13, 7:43 pm in United States Virginia Landlord & Tenants