Reserve funds shouldn’t be used for routine maintenance

By L.A. Times • Jul 11th, 2009 • Category: Real Estate News

A condo board that misuses funds might be liable for legal penalties.

Question: I live in a California common-interest development of fewer than 50 condominiums. Our treasurer insists that money from the reserve fund that is used for replacing the decorative part of the roof, repairing the hot water system, etc., be replaced immediately after the funds are withdrawn.


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