Who is entitled to the full amount of the assessment.

Free Insurance Quote Comparison

 Secured with SHA-256 Encryption

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Full Bio →

Written by

UPDATED: Dec 5, 2011

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.

Insurance Question from Lyndhurst, NJ

Asked on 12/05/2011

Who is entitled to the full amount of the assessment. There was a flooding in my condo last year. The insurance company paid the condo association but the association has forced some condo owners to settle prematurely giving them only what it cost them to repair their condos and keeping the balance. Do they have the right to keep the balance of the money and not tell the the true value of the assessment. Do the individual owners of the condos affected have the right to all of the assessment.

Answer given on December 07, 2011

If the flooding damage to your condominium was covered by the Homeowner Association and the repairs made to each condominium were sufficient to put the condominium back to its original condition, it seems there would be no issue between the unitowner and the association. The insurance company and the Homeowner Association worked out a settlement to repair the units that were damaged. It seems odd that the repairs would cost less than the settlement with the insurance company, but it is not impossible that the association was able to have found a contractor willing to make the repairs at a lower cost.If you and the other unitowners are not experiencing any financial loss or expense from this claim it should not be a concern to you as to the amount collected by the association or the amount spent for the repairs. However, if an assessment was made to you by the association then you might have a standing to see the settlment from the insurance company and the amount spent on repairs.

IMPORTANT NOTICE: These answers are for general information purposes only and are provided by the person answering and FreeAdvice.com AS IS. It has not necessarily been reviewed by the management staff of FreeAdvice.com nor is it binding any insurance agent, broker, or other insurance professional or any attorney or insurance company. Insurance laws, regulations and practices vary from state to state and insurance policies and practices differ from company to company, by type of policy, by state and locality and by type of insurance. Tiny variations in the facts, policy language or a detail not set forth in a question often can change the outcome or a professional's conclusion. Although FreeAdvice.com has confirmed that the answer(s) was/were provided for the account of an experienced insurance professional, that professional may not be licensed in the state referred to in the question, and may not be experienced or up to date in the subject area. Unlike the answers provided here, upon which you should NOT rely, for personal advice you can rely upon we suggest you consult a licensed insurance professional in your area or retain a licensed attorney listed on AttorneyPages.com to represent you.

Free Insurance Quote Comparison

Enter your ZIP code below to compare cheap insurance rates.

 Secured with SHA-256 Encryption