ဤအပိုင်းအကြောင်း
Is your HOA spending reserve money on things it’s not supposed to? In this episode, attorney Michael Kushner, California’s #1 homeowner-side HOA attorney, breaks down which money has to go into your HOA’s reserve account, the short list of things your HOA can spend it on, and how bad HOAs frequently misuse the reserve account to pay for things like ordinary landscaping, insurance premiums, and leaking water spigots. When reserve money is misspent on prohibited items, one way or another, homeowners end up having to pay to replace the money.
What You’ll Learn in this Episode:
✅ The interest your HOA’s reserve account earns, and what it means when that money ends up in the operating account.
✅ The four things Civil Code § 5510 lets your HOA spend reserve money on.
✅ The mistake in the Davis-Stirling Act over whether your HOA can use reserve money to build something new, like pickleball courts.
✅ The two ways your HOA has to make up the shortfall when it spends reserve money on the wrong things.
If your HOA is paying for something out of reserves and you’re not sure it’s allowed to, this episode tells you how to find out.
HELPFUL LINKS:
“What Can My California HOA Legally Spend Reserve Funds On?”
https://mbkchapman.com/hoa-reserve-funds-spending-fact-sheet/
“What Can My California HOA Legally Spend Reserve Funds On?
https://mbkchapman.com/hoa-reserve-funds-spending-fact-sheet/
“Can You Hold HOA Board Members Personally Liable in California?”
https://mbkchapman.com/hoa-board-member-personal-liability-california-fact-sheet/
“Can My California HOA Borrow From Reserves?”
https://mbkchapman.com/hoa-borrow-from-reserves-california-fact-sheet/
🎧 📞 If you enjoyed this episode, please like and subscribe to HOA HELL. Listen on YouTube at @hoahellpodcastofficial or wherever you get your podcasts. To schedule a consultation, visit https://mbkchapman.com/ and mention the HOA HELL discount.
DISCLAIMER:
This content constitutes attorney advertising. The content of this podcast is for general informational purposes only and does not constitute legal advice. No attorney-client relationship is created by listening to this podcast, submitting a question, or receiving a response. Always consult with a licensed attorney regarding your specific legal situation. MBK Chapman and Michael Kushner disclaim any liability for actions taken or not taken based on the information provided in this podcast. This communication does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.
ABOUT:
Michael Kushner created and taught the systems now used by the biggest law firms in the state focused on HOA litigation. Managing partner of MBK Chapman, and author of the best-selling book, HOA HELL, Kushner teaches homeowners how to fight their bad HOAs and win.
💥 Amazon [https://tinyurl.com/tx47hmvn] | Barnes & Noble [https://www.barnesandnoble.com/s/hoa%20hell]
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🔥 HOA Hell
Attorney Michael Kushner, California’s #1 homeowner-side HOA lawyer, shares real legal tools to help homeowners fight back and win against Bad HOAs.
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