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Special Assessment Risks

Author: 
Toronto Condo News
Publication date:
February 23, 2022
Article Summary: 

The blog discusses the risks associated with special assessments that arise due to inadequate funding of reserve funds for repairs of major systems such as roofs or parking areas. The blog mentions that title insurance and special assessment insurance can provide coverage for some owners, but those who are unaware or choose not to purchase the insurance are obligated to pay their share of any special assessment.

Keywords: 

special assessment, reserve fund, title insurance, special assessment insurance, and covered loss.

Source Citation: 
Toronto Condo News
Special Assessment Risks
February 23, 2022
https://tocondonews.com/archives/special-assessment-risks/
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