HOA and Condo Association – Two Things To Know
I have two things to discuss with you that you should let your HOA and Condo Association clients know about.
1. CORPORATE TRANSPARENCY ACT.I talked about this last time. The federal Corporate Transparency Act is currently on hold. As of yesterday, a Texas federal court granted an injunction against enforcement of the Corporate Transparency Act (the CTA), saying that reporting companies (HOAs and Condo Associations) don’t need to comply with the January 1, 2025 CTA deadline. Now, it’s only a preliminary injunction – not a final decision. So, if the decision is overturned on appeal or if the government ends up winning at trial, then enforcement will resume. But for now, nothing needs to be done.
I know that a lot of my clients were hustling to get this filing done before the January 1, 2025 deadline. I’ve started to notify them that there’s no rush. For now.
2. CONDOMINIUM ASSOCIATION MUST MAKE THEIR ANNUAL FILINGS. But the government’s not done with you yet. Now this notice is only for Condominium Associations. Pursuant to a fairly recent Nebraska statute, every Condominium Association must file with the County Register of Deeds office a statement listing the name of the Condominium Association and the names and addresses of all the officers of the Condominium Association. When preparing that notice for filing, it’s important to include the legal description of all of the condominiums, and to have it signed and notarized by an officer so it can be recorded. Remember, this must be done every year prior to December 31. In my experience, many Condo Associations fail to make this filing.
I would be glad to help your Condo Association clients with this.
Also, you should join my Facebook Group. And you should tell all of your Association clients to take a look at it and hopefully join. There’s a lot of very helpful information there about many topics of great interest to all HOAs and Condo Associations. My Facebook Group is called:
OMAHA HOA AND CONDO ASSOCIATION
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