September 28, 2018

Condominium and Homeowners Association Budgets Must be Ratified

It's community association budget season!  Due to the recent adoption of the Washington Uniform Common Interest Ownership Act ("WUCIOA") (see my previous post about it here), all Washington condominium and homeowners associations' budgets must now be ratified by their owners in order to take legal effect.  In order to comply with this new requirement, those associations must provide each proposed budget to their owners and schedule a meeting to consider ratification of that budget.  The budget is considered ratified unless the owners of units to which a majority of the votes in the association are allocated reject it.

If your board has questions or concerns about compliance with Washington law or the association's governing documents, then my office is here to help!