If a condo was bought in option. Who is responsible for monthly dues?

More then $3000. No one is taken any responsibility. new buyers since April is not paying, .
In Property Management - Asked by Vilma A. - Sep 15, 2011
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Answer(s)

Jay Z.
Broker/Agent
Phoenix, AZ

The owner of the condo owes the money. Unless he entered into an agreement where the option-holder pays the dues (that obviously didn't happen here since you say that "no one is taking responsibility".
The option-holder has not "bought" the condo until she exercises her option (usually by paying more money). If she exercised her option in April, she owes the dues from April. The previous owner owes for March and earlier.

Sep 16, 2011
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Chris R.
Broker/Agent
Denton, TX

Review of the contract documents would have to be done - by an attorney for legal interpretation - but obligation to / for monthly dues runs with title to the property. At the point in time in which title transfers - so does responsibility to / for the monthly dues - unless there was some language in the contract documents agreed to by both parties then obligation would likely run with transfer of title. Should have been addressed by the title company handling the transaction and is an obligation to convey clear title.

Sep 20, 2011
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