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ASSOCIATION
ESCROW FEES
(Transfer Fees,
Move-In/Move-Out Fees)
Associations may charge transfer fees but no more
than is necessary to defray the costs for which they are levied.
Civil Code §1366.1 This
restriction does not apply to management
companies. Associations should be prepared to provide an itemized break down to
support their fees. Reasonable items might include the following:
- Copy
costs for governing documents required by
Civil Code §1368(a)(1)
- Copy costs for the financial documents
per §1365, as required by
Civil Code §1368(a)(3)
- Copy costs for
preliminary list of construction defects provided to members
Civil Code §1368(a)(6)
- Copy
costs for
general description of defects the association believes will be
corrected or replaced and an estimate of
when the defects will be corrected per §1375.1, as required by
Civil Code §1368(a)(7)
- Copy
costs for minutes
- Document delivery fees
- Cost
to close out old files
- Cost
to set up new files, including emergency information and/or security
cards
- Cost
of attorney litigation disclosure letter (if any)
- Fee
to change security systems (if any)
- Fee
to inspect the property and/or documents for rules violations
Civil Code §1368(a)(4)
- Fee
to answer lender forms
- Fee
to answer escrow forms
- Fee
to certify assessments per Civil Code §1368(a)(4)
Updated by ADAMS KESSLER 8/21/2007 | |
