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Corporate Transparency Act

What is the Corporate Transparency Act?

The Corporate Transparency Act (CTA), signed into law in late 2020, is designed to combat financial crimes such as money laundering, tax evasion, and fraud by increasing the transparency of corporate ownership. While this legislation targets large corporations and LLCs, its implications have an impact on Homeowners’ and Condominium Associations as well.

COVID-19

Effective Monday, March 23, 2020, at 11:59pm, the Director of the Ohio Dept. of Health issued a "Stay at Home Order". This Order currently lasts until April 6, 2020, at 11:59pm. The Director's order includes the entire state. Unless you work for an essential business or are doing an essential activity, you should stay home. "The intent of this Order is to ensure that the maximum number of people self-isolate in their places of residence to the maximum extent feasible..."

Contractor Conflict

One constant in condominium and homeowner association law is the issue of vendors and contractors.  At the very least, associations are responsible for the upkeep, maintenance, and repair of the common elements.  Often times, there may be pools, patios, and clubhouses that associations must manage as well.  This means that there will be vendors, contractors, and suppliers.  Most of the time, the relationship runs smoothly; but, every once in a while, there’s a hiccup.  Sometimes, it’s more an explosion than a hiccup.  In any case, how boards and property managers handle disputes with vendors can either spell long-term pain for the association or it can mean a relatively simple affair.

Insurance Responsibilities: What Is Required?

Many of our clients have asked our office about insurance responsibilities of the Association and individual owners.  When a casualty occurs, the first step taken may be to check whether such act is covered.  It is important to understand the requirements of your Association to make sure that the property is properly insured before a casualty occurs.  

What is a Statutory Agent & Why is it Important?

At some point, each of you may likely have received a letter and some paperwork from our office about the Statutory Agent. Just what is a Statutory Agent, and why does this paperwork need to be filed, anyway? 

Self-Management

To self-manage or not to self-manage? Managing an Association is hard work.  Some Associations successfully self-manage, but many underestimate the amount of work involved in doing so.

Warehousing: How to Handle Elderly & Disabled Residents Who Are Unable to Care for Themselves

The phenomenon of “Warehousing” is very unfortunate for individual owners who genuinely need the type of help that an Association is unable to provide; and also unfortunate for the Association in dealing with such a delicate situation, especially when resources for assistance are not readily available. Warehousing is when a family member or friend of the occupant sends or allows the occupant to live in the Association rather than the proper assisted living facility or a nursing home.

As your legal counsel, we become part of your team, providing the legal component to your business decisions.

Let us get started today.

216-771-2600

Ott & Associates Co., LPA

1300 E 9th St, Suite 1520
Cleveland, OH 44114

Ph: 216-771-2600
Fx: 216-830-8939

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