Drowning lawsuit: Family of boy who died sues Hazel Crest condo association -- chicagotribune.com: "The family of a boy who drowned in a pool at a Hazel Crest condominium filed a wrongful death suit Wednesday in Cook County Circuit Court. The drowning of Jamar Garrett, 12, took place at Stonebridge Condominium Association last summer. The suit alleged a hole in the fence allowed access to a pool so murky that the deep and shallow ends were difficult to distinguish, the suit said."
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At last night's law school class I spent the whole session talking about things like this. Associations are becoming targets of opportunity for litigation. I'm not even counting the cases the associations file. I mean when they get sued for tort, breach of contract, discrimination, etc. Most of them have liability insurance and if that fails the assessment stream can be used to satisfy a judgment.
1 comment:
"Most of them have liability insurance and if that fails the assessment stream can be used to satisfy a judgment."
This is why I consider HOAs to be financial and liability black holes! Those over hyped "amenities" are really LIABILITIES.
Two things are going to happen here. As judgments become larger and larger, the needed liability insurance will become drastically more expensive. In addition, owners will be hit with large special assessments to satisfy larger judgments that are too large for the already expensive insurance to cover. The result will be more bankrupt owners who abandon units with such amenities. Need I mention what will happen to property values?
Smart buyers will see this and avoid developments with swimming pools and other such "attractive nuisances."
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