Question:
My mother has been inadvertently overpaying her monthly dues since 2018 by 32.00 each month. She was just notified that she has a credit balance of $1900.00+. The letter stated she could ask for a “partial refund”. I have two questions:
1. Should she not be entitled to a full refund of the credit amount minus maybe the next month’s dues?
2. They have been sitting on this credit balance for 5 years, with no notification. Should they be required to issue her the accrued interest as well?
– Patty
Answer:
Hi Patty,
This may depend on the provisions of the governing documents. Kindly review them to verify what happens to overpayments and whether or not members are entitled to full refunds, interest, or accrued interest. You may also ask the board for clarification. For further guidance, kindly consult a lawyer.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
