Download the template here. By now, most condominium associations in Illinois are aware of the new requirements imposed by the Boucher v. 111 East Chestnut Condominium Association. If you are not aware of the decision, click here for a link to our article. One of the...
Your Declaration May Require the Association to Refund a Budget Surplus In the past, many (if not most) condominium associations that ended their fiscal years with a budget surplus (that is, a net excess of income over expenses) would add that additional money to the...
In This Issue Monthly Attorney Retainers: Are they worth the expense? Unit Foreclosure Actions: Should the association spend money to get involved? Visit the link HERE to read our March...
Download this article as a PDF here. First, let’s be clear what we’re discussing here – the word “retainer” is used by attorneys to mean different things. An “initial retainer” or “fee retainer” is an advance payment for some legal fees that will be done in the...