Sharing of expenses — lien for nonpayment
- Statute:
- Illinois §9 · Act CPA (Condominium Property Act (765 ILCS 605))
- Topic:
- Assessments · Budget, reserves, lien
- Applies to:
- Condo associations
Each owner pays common expenses in the same ratio as the declaration's percentage of ownership. The board must prepare a detailed annual budget and, unless two-thirds of all votes waive it, fund reasonable reserves. A year-end surplus may go to reserves, a credit, a refund, or next year's budget — owners with 20 percent of the votes can petition within 30 days to pick a different option. Unpaid assessments, fines, interest, late charges, and collection attorney fees are a lien that can be foreclosed like a mortgage. A foreclosure purchaser other than the mortgagee owes up to six months of the prior owner's unpaid assessments.
📄 Read the official text at ilga.gov →
How SoShiny helps with Sharing of expenses — lien for nonpayment
SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees.
See the feature → Start freeFrequently asked
- What does Illinois §9 require?
- Each owner pays common expenses in the same ratio as the declaration's percentage of ownership. The board must prepare a detailed annual budget and, unless two-thirds of all votes waive it, fund reasonable reserves. A year-end surplus may go to reserves, a credit, a refund, or next year's budget — owners with 20 percent of the votes can petition within 30 days to pick a different option.
- Who does Illinois §9 apply to?
- Illinois §9 applies to Condo associations in Illinois.
- What happens if our condo doesn't comply with §9?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for Illinois community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of Illinois §9?
- The official text is published by the Illinois General Assembly at ilga.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Sharing of expenses — lien for nonpayment?
- SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees. Learn more →
Not legal advice. This page is a plain-English summary of Illinois §9 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a Illinois-licensed attorney. For the official statutory text, see the link above.
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