Monday, March 16, 2009

Legal Update: Harris v. Waterstone and NCC BOD

Readers here might recall that I had some complaints about the rental of condos by Waterstone Resort Realty, LLC and complained to the NCC BOD repeatedly From Sept 07 until June 10, 2008 when I had my attorney file suits against both Waterstone and the NCC Association.

The matter was ordered to Arbitration by Judge Costello over 2 months ago. So far both the NCC BOD and Waterstone (now known as NCPCB Investments, LLC) have been totally uncooperative in setting a date for this to proceed.

I do understand why Waterstone/NCPCB Investments seek a delay, in my opinion, they are as close to going out of business as to make no real difference. They are behind on their assessments, haven't paid their mortgage to Compass Bank since July 08 and are now in forclosure on 710, 712, 714 and 716, so the delay is an obvious attempt to avoid having to answer for their screw up in renting illegally.

The motives of the Association BOD is less clear. I would write this off to simple indifference on their part as 2 of the 3 BOD members are developers of the complex and really could not care less what happens here.

The problem is that this matter will eventually be heard and decided with the loser paying ALL costs and attorney fees for both sides. Since I am not dumb enough to start a civil action that wasn't a sure winner I'm afraid that, with Waterstone pretty much down the tubes, the NCC owners will be on the hook for the costs and attorney fees of about $25,000. This will probably mandate a special assessment as there is no provision in the 2009 budget for this.

The matter never needed to go to court in the first place, but the BOD and Seagrove Management Company repeatedly ignored the complaints about the condo misuse. In fact the BOD and current management company (Concord) are still ignoring another similar matter with the misuse of 706.

Details can be found at:

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