Question:
Re: It appears a special assessment can be assessed based on the Georgia Condominium Act (with restrictions) but questions are 1. Can this assessment be annually? And 2) How can I find out if my Association meets the instruments recorded portion of the law as indicated below.
Note that this new law will only apply to condominium instruments recorded after July 1, 2015 and those condominium associations whose governing documents incorporate the special assessment limitations of the Act.
– Rhonda
Answer:
Hi Rhonda,
According to the Georgia Condominium Act Section 44-3-80(g)(1), the limitation is per fiscal year. Hence, the association may be allowed to levy the special assessment annually based on the association’s fiscal calendar.
As for applicability, you may check the business search page of the Georgia Secretary of State. You may enter your association’s name. Once entered, the record of the association should appear, including the date of formation or registration.
To verify whether the condominium opted into the act, you may check the CC&Rs and its amendments to see whether the association chose to do so. However, if the condominium was established on or after October 1, 1975, the condominium association may be automatically subject to the Georgia Condominium Act. For further guidance, kindly consult a lawyer.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
