Legal Question in Real Estate Law in Illinois

condo assessments
Can the owners in a condo buliding change the assessment structure in the condo declaration? There is a disproportionate system which has been in place since the conversion of the building. The current system is not based on square footage or unit value. Can the assessment responsibilities be adjusted?

Asked on 1/15/07, 2:28 pm

Zedrick Braden III Ainsworth & Associates PC

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Re: condo assessments

Hello and Happy New Year. In my opinion the language of the bylaws

will determine whether the owners can

act in this way. Generally this should be known at the time of the

conversion. Condos can present some

rather awkward problems and it is

necessary to have a lawyer on board

regularly to insure a smooth operation. I will be happy to discuss

this further and in more detail.

Answered on 1/15/07, 11:00 pm

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