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Louisiana Legislature Passes Condominium Laws - Keeping You In The Know!

Louisiana condominium owners and prospective condo buyersLouisiana Legislature Passes Condominium Laws should take note. The Louisiana Legislature recently passed two (2) Condominium Laws. One bill by Representative Major Thibaut would require condominium associations, or their management companies, to carry a fidelity bond for the protection of unit owners and to help individuals finance condominium loans. Most banks now require some type of a bond before financing will occur. The second bill, by Representative Nita Hutter would provide some relief in the form of a grace period to unit owners having to pay late assessment fees.

If you're considering purchasing a condominium in Lafayette or Greater Acadiana, i List For Less Realty can assist you with the important details. We ensure our clients and customers are always in the know!



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Comment balloon 2 commentsMike Mayer • June 20 2011 09:46PM

Comments

I was not aware of this and just closed on a Condo 3 weeks ago will have to check into this info !

Posted by Marilyn Boudreaux, Lake Charles LA Century 21 Realtor (Marilyn Boudreaux, Century 21 Mike D. Bono & Co.'s) over 6 years ago

Yes this is a recent event Marilyn. I maintain an interest in what our state officials are doing as it pertains to our profession and the real estate market overall.

Posted by Mike Mayer (Mike Mayer, Broker/Owner - i List For Less Realty, LLC) over 6 years ago

Participate