Condo President Breaks Condo Rules: Condo President Transfers Funds

June 30, 2009 by Dr. Joyce Starr
Filed under Condo - HOA Rights, Homeowner Rights, Topics & Guests

A condo president moves thousands of dollars from the condo Association’s reserve account without proper signatures. He could be planning to abscond with and/or draw down Association funds. Show date: July 2, 2009.

My guest is the condo treasurer and an experienced account in her own right. The condo president, who declared bankruptcy only a few months ago, recently transferred hundreds of thousands of dollars out of the condo’s reserve account – without the required signatures – into newly established accounts at other banks, (including the bank where he maintains his mortgage).

The treasurer begged her fellow Board members to stop the transfer. She also spoke with the police and with the condo’s attorneys. All to no avail. I provide coaching services to condo owners and HOA members on their condo problems/HOA problems. Each condo rights and HOA rights case is different. However this situation is so worrisome that the treasurer agreed to share it with my listeners.

How to Listen: You can listen to the streaming replay of this show below. Bookmark this page and tell your friends.

Condo presidents/HOA presidents are not the only problem. Our Special Report explains how condo association & HOA owner managers often exploit their condo associations and HOA homeowners associations – and what can be done to stop such practices.

Condo Owners & HOA Owners as Condo Managers - HOA Managers

Condo association owners who serve as Managers – paid or unpaid – can more easily take control of Association funds.

More about this special report….

Listen to heroine Isabella recount her effort to protect Association funds. Click the play button below. Phone 786-693-4223 if you need help on your condo rights or HOA rights problem:

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