QUESTION
Do I have any recourse against the owners or against the HOA?
Asked on Oct 30th, 2023 on Real Estate - Pennsylvania
More details to this question:
I bought a condo with hoa’s, an ongoing lawsuit against the association was never disclosed to me. Hoa’s are now rising to cover lawyers fees and new insurance company.
1 ANSWER
Bankruptcy Attorney serving Collegeville, PA
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Nahrgang & Associates, P.C.
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Your concern is a valid one and I believe a strong argument could be made that the suit should have been disclosed by the owner. However, I don’t believe the HOA owes any such duty to a prospective buyer. Here is the pertinent question in the Sellers Disclosure Statement which I believe should have been answered yes with an explanation.
(17) Miscellaneous.
(i) Are you aware of any existing or threatened legal action affecting the property?
I suggest speaking with a real estate attorney about your rights, noting that the statute of limitations may expire 2 years after the sale so you should act promptly.
I trust this has been helpful but don’t hesitate to call or email me on a free initial basis.
Matthew R. Nahrgang, Esquire
35 Evansburg Road, Ste 400
Collegeville, PA 19426
610 489-3041 o
610 489-3042 fax
mnahrgang@verizon.net
nahrganglaw.com
Answered on Oct 31st, 2023 at 6:07 AM