Ask Experts Questions for FREE Help !
Ask
    Jllucas31's Avatar
    Jllucas31 Posts: 6, Reputation: 1
    New Member
    		  
    #1

    Dec 15, 2008, 04:38 PM
    What are the liabilities for being member of HOA?
    My husband and I are thinking of running for board positions on our HOA in FL. We are from Pennsylvania where a lot of the rules/bylaws differ greatly. We decided to get involved because the neighborhood is taking a turn for the worst with unmowed lawns, cars in the front yard, etc. In fact 15 of the 80 homes are currently in foreclosure. Can someone please tell me if we would face any personal liability?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #2

    Dec 15, 2008, 04:44 PM
    Quote Originally Posted by Jllucas31 View Post
    My husband and I are thinking of running for board positions on our HOA in FL. We are from Pennsylvania where alot of the rules/bylaws differ greatly. We decided to get involved because the neighborhood is taking a turn for the worst with unmowed lawns, cars in the front yard, etc. In fact 15 of the 80 homes are currently in foreclosure. Can someone please tell me if we would face any personal liability?

    I don't know about Florida but that being said when my husband was President of his HOA his Attorney recommended that he pick up some sort of liability/umbrella policy in the event there was some sort of dispute. Even if it's nonsense, if you are sued personally you have to defend and I guess there's always the risk of personal exposure.

    I would run this past an Attorney - or your insurance agent.
    Jllucas31's Avatar
    Jllucas31 Posts: 6, Reputation: 1
    New Member
    		  
    #3

    Dec 15, 2008, 05:03 PM
    Quote Originally Posted by JudyKayTee View Post
    I don't know about Florida but that being said when my husband was President of his HOA his Attorney recommended that he pick up some sort of liability/umbrella policy in the event there was some sort of dispute. Even if it's nonsense, if you are sued personally you have to defend and I guess there's always the risk of personal exposure.

    I would run this past an Attorney - or your insurance agent.
    Thanks for your help, we'll talk to an attorney.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #4

    Dec 15, 2008, 05:55 PM
    Quote Originally Posted by Jllucas31 View Post
    Thanks for your help, we'll talk to an attorney.


    It would be helpful if you would come back and let us know what the Attorney advises. This question is bound to be asked again!

    Plus - I'd like to know definitively in Florida.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Work permit for a non-EU member in Spain while my spouse(EU member) will stay in UK [ 1 Answers ]

Hi there, I live in the UK with my wife. She is an EU member and I am non-EU member. I am moving first to Spain for work reasons there but my wife will stay in UK for at least 4 months then she will join me. The Spanish company does not sponsor me to get a work permit so I need to apply for...

Determining liabilities [ 1 Answers ]

From my understanding investments fall under cash, but I'm not sure about the rest... Is there a definitive rule for determining what is and isn't a liability? Murphy & Company started operations this month and had the following transactions during the month: (1) investment by owners $30,000,...

Classifying Liabilities [ 1 Answers ]

I am trying to classify what type of liabilities these payables are or if they are liabilities at all. The choices are current, long-term, or not a liability. Sales taxes payable- current FUTA taxes payable- Accts. Rec.- Accrued payroll payable- Wages payable- current Notes payable-...

Warranties and Liabilities [ 4 Answers ]

Hello, Is a two year free maintenance warranty on a vehicle considered a liability? Also, is the purchase of land with common stock when the land is to be stated at more than the par value of the stock considered a liability? Thanks, Eric

Liabilities Question [ 1 Answers ]

12. Georgia Tent Company’s total liabilities on August 31, 2002 were $200,000. On September 1, 2002, the Georgia Tent Company purchased $100,000 of supplies on account from Camper World. On September 25, 2002, Georgia Tent purchased an additional $50,000 of supplies on account from Rural Vendors....

View more questions Search