[ikirutheowl]

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Ideally, before you even bought the home, you would have looked at the HOA’s financial records and reports. This would have signaled to you that the HOA is not doing well financially, giving you a chance to back out from the sale.

[ikirutheowl]

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So sorry to hear that. An HOA should not run out of money, though, as long as it’s doing its job of collecting fees from owners. Something probably went wrong along the way and your HOA is greatly mismanaged. I don’t see how an HOA could run out of money unless the board has stopped collecting fees or the HOA spent all of its money on something.

[ikirutheowl]

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First of all – I know where your coming from. We have had this exact same problemin the past. I dont recommend ignoring the quorum requirement bcos that would jhust make your election and any other action taken during the meeting invalid. In our cases we eventually got a quorum after some choice incentives we advertised to homeowners (free food, drinks, a raffle). Perhaps you can implement somethin like that in your POA too.

[ikirutheowl]

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Yes, it’s true. When an owner files for bankruptcy, the association can no longer collect on the assessments due to pre-filing. But bankruptcy doesn’t mean owners can stop paying their assessments forever.

When the association receives the notice of bankruptcy from the owner, your attorney should respond with a ledger of all amounts due to the association. This is the pre-petition ledger. Then you must start maintaining a post-petition ledger, which is a ledger of all amounts due to the association after the owner files for bankruptcy. If the owner again fails to pay these, you can ask the bankruptcy court to lift the automatic stay and let the association resume collection efforts.

[ikirutheowl]

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There are a number of actions you can take against delinquent owners. Fines and suspending privileges are good places to start. But many HOAs usually place liens and start foreclosure proceedings.

[ikirutheowl]

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You might not have money for an attorney, but your HOA definitely will. You have a 50/50 chance of winning with an attorney. Without one you will almost definitely lose.

[ikirutheowl]

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You should refer to your Declaration. There are usually clauses there that will tell you how to do just that. May I ask why you want to disband your HOA?

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