Sale of unit; escrow accounts
- Statute:
- Louisiana §9:1121.108 · Part CONDO (Louisiana Condominium Act (La. R.S. 9:1121.101 et seq.))
- Topic:
- Assessments · Reserves
- Applies to:
- Condo associations
On the initial sale of a unit the seller (developer, declarant, or successor) must collect at least two months of assessments and park them in a reserve escrow separate from the seller's own account. Those funds are only for the association and must be turned over with the other condominium assets.
📄 Read the official text at legis.la.gov →
How SoShiny helps with Sale of unit; escrow accounts
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 Louisiana §9:1121.108 require?
- On the initial sale of a unit the seller (developer, declarant, or successor) must collect at least two months of assessments and park them in a reserve escrow separate from the seller's own account. Those funds are only for the association and must be turned over with the other condominium assets.
- Who does Louisiana §9:1121.108 apply to?
- Louisiana §9:1121.108 applies to Condo associations in Louisiana.
- What happens if our condo doesn't comply with §9:1121.108?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for Louisiana community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of Louisiana §9:1121.108?
- The official text is published by the Louisiana State Legislature at legis.la.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Sale of unit; escrow accounts?
- 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 Louisiana §9:1121.108 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a Louisiana-licensed attorney. For the official statutory text, see the link above.
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