Month: February 2009

Facts: A “right of subrogation” allows an insurer to choose to take action to recover the amount of a claim paid to a covered insured if the loss was caused by a third party.

The Federal National Mortgage Association, or Fannie Mae, has taken steps to make the cost of purchasing or refinancing a condo more expensive, unless the purchaser makes a sizable down payment.

With many lenders already wary of condo loans because of their default rate, Fannie Mae has added a fee of .75 percent of the loan amount of a 30-year fixed mortgage, for borrowers who put down 25 percent of the purchase price or less, effective April 1, 2009.

Facts: For years, a Florida condo association received complaints regarding its assessment structure. Equally sized condominiums in the community were required to pay differing assessment amounts. As a result, in 2004, the association decided that all similarly situated members are to be assessed equally for common expenses.

Facts: When a member bought her home, it was next to a basin that was in good condition, free of debris and algae, and full of fish. Over time, as other homes were constructed in the community, the basin filled with debris, and the fish died. The member was unable to enjoy her property because of the smell and swarms of mosquitoes. The member eventually sued the association for negligence, nuisance, and breach of contract.

Facts: A board president sued his association and other board members who voted in favor of a passed budget to have the budget invalidated. The other board members asked the trial court to dismiss the president's complaint without a trial, and the trial court granted the request. The president then appealed.

Ruling: The appeals court upheld the lower court's decision.