Favored rights granted to condominium associations Only a few types of creditors in Louisiana are granted the right to lien a debtor’s property prior to a judicial confirmation that a debt is in fact owed. This is a valuable right and should not be taken lightly. Creditors afforded this preferred status include condominium associations, homeowners […]
New Louisiana Condo laws require notices to unit owners
In 2011, the Louisiana legislature passed two new condo laws on fidelity insurance and late fees. Both laws mandate notifications to each unit owner. Why not combine the notices? The combined notice should state: that the condo association has procured fidelity insurance or a fidelity bond that the owner has a right to inspect proof […]
Louisiana Condo Associations limited on late fee charges
In 2011 the Louisiana legislature passed a new law that sets parameters for condominium late fees. Under the new law, late fees cannot be charged within ten days of the due date and cannot exceed thirty percent of the monthly assessment. As with the new law requiring condo associations to carry fidelity insurance discussed in a […]
