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Dear All,
Our property developer has registered our Homeowners association in 2003 w/ HLURB and managed our subdivision for 6 years. The board members were employees of their company.We hardly had a meeting, only 2 times,one in 2004 to announce the Association dues and in 2008 to announce that there was an increase of association dues.
Our association is P50 /m2, for the period that thay are in-charge of the association they made contracts with different agencies like security and ground maintenance/gardening without informing the homeowners. In 2009, we have found out that they have accumulated a very huge amount of debt and they would like to turn over the management of association to the residents. The residents refused and have asked them to clear up the financials in respect of receivables and costs. A few days ago, the developer decided to turn over the full management control of the association to the residents only with verbal notice on which the association has a huge debt of P1.627.340 million pesos. This amount has to be shouldered by the homeowners because the developer said that this amount has been paid by them in advance.
Please advise! The homeowners does not want to shoulder the debt that we did not created but if we do not pay this, they still own 24 lots in our subdivision and they will offset the association dues of this 24 lots to the huge debt.
Any legal advice on what to do please. Our association at the moment does not have a single centavo and we still owe the security agency P300,000+ because they also did not pay them from Dec. until last month.
Evangeline
Our property developer has registered our Homeowners association in 2003 w/ HLURB and managed our subdivision for 6 years. The board members were employees of their company.We hardly had a meeting, only 2 times,one in 2004 to announce the Association dues and in 2008 to announce that there was an increase of association dues.
Our association is P50 /m2, for the period that thay are in-charge of the association they made contracts with different agencies like security and ground maintenance/gardening without informing the homeowners. In 2009, we have found out that they have accumulated a very huge amount of debt and they would like to turn over the management of association to the residents. The residents refused and have asked them to clear up the financials in respect of receivables and costs. A few days ago, the developer decided to turn over the full management control of the association to the residents only with verbal notice on which the association has a huge debt of P1.627.340 million pesos. This amount has to be shouldered by the homeowners because the developer said that this amount has been paid by them in advance.
Please advise! The homeowners does not want to shoulder the debt that we did not created but if we do not pay this, they still own 24 lots in our subdivision and they will offset the association dues of this 24 lots to the huge debt.
Any legal advice on what to do please. Our association at the moment does not have a single centavo and we still owe the security agency P300,000+ because they also did not pay them from Dec. until last month.
Evangeline
