Property Management
A Massachusetts condominium association's board makes a decision to assess each unit owner $5,000 for emergency roof repairs. Individual unit owners who disagree with this assessment:
AMay refuse to pay
BAre generally obligated to pay per the condominium documents but may challenge the assessment at a properly noticed meeting✓ Correct
CCan sell their unit to avoid the assessment
DCan petition the Board of Registration for relief
Explanation
Condominium assessments (both regular and special) are binding on unit owners per the master deed and trust agreement. While owners may challenge decisions through association governance procedures, they typically cannot simply refuse to pay valid assessments.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
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