We bought a unit in a new construction of 4 units. Three units have been sold and occupied for at least a year, including ours. All this time the original owner of the land, who had it developed and holds the trust as well as the Master Insurance Policy, has never created a bank account or reserve account for the Association. He has never called a meeting, and we have all been waiting patiently as he has stated he wished to wait for the last unit to sell before finalizing and handing off.
The last unit just passed papers very recently, we found out today, and the new owners will be moving in soon. When asked when we should expect the first meeting however, the gentleman becomes disinterested and says it's none of his business. When reminded he must hand off the Association, he states he "doesn't know what he has to hand off".
Unfortunately, I'm not familiar with the exact process or papers that need to be completed. Is he correct that he doesn't necessarily need to be there? Having been in a newly formed Association hand-off meeting before, I seem to remember signing some documents with the Contractor/Building Owner who sold the site.
But more pressing is the fact that we are all having water damage from ice dams. We need to file a claim with the Master Insurance, but are unable to as he is still legally the Trustee. He needs to hand this off somehow so we can do this, doesn't he?
We've been asking him to submit the claim since last Wednesday. He's been dancing around doing so.