QUESTION
HOA recently dissolved, HOA mgmt co holding $12K in HOA funds...no response to ltrs seeking refund
Asked on Sep 03rd, 2015 on Real Estate - Colorado
More details to this question:
Colorado location. HOA manager is a RE agent. Handles some 30 different HOAs. 38 HOA owners have just dissolved this HOA...but mgr has declined to respond to our letters seeking an accting of $'s paid and expended to permit appropriate return of unexpended funds to owners. Not sure $ is sufficient to justify suit. Thinking letter threating to report him to his RE licensing body unless he refunds & accts for $. ? yr thoughts? other courses?
1 ANSWER
3 Awards
If the HOA was properly dissolved and the manager no longer is employed by the HOA he has a duty to return any money held by him to its owner, the HOA.
Likely, this situation is more complicated than one may think.
A suit, or threat of a suit, for Conversion or Civil Theft would likely bring the broker to the table.
Good Luck!
Answered on Sep 07th, 2015 at 2:55 PM
Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.