Legal Question in Real Estate Law in Virginia

Condo Fees

I live in a condo with a management company where my my monthly condo fee is sent. The fee is due on the first and the company has a history of not depositing the money untill after the 10th of the month. My question is as follows: Is there a law that states a time limit the management company must deposit the funds and if so how many days after receipt of the check do they have to deposit the money?

Thank you


Asked on 5/14/03, 7:36 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Condo Fees

This is a matter between the BOD (Board of Directors)and the management company and, as far as I know, does not implicate either any state or local laws and, probably, not even any of the condo by-laws.

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Answered on 5/14/03, 12:05 pm


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