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Posts Tagged ‘Ground rent dispute in Ocean Grove’

Re:  Dispute regarding ground rents for condo owners.   The item below this sentence appeared recently  in the Wassup? section of Blogfinger.net:

Condominium associations lose their suit regarding ground rents.  The two condo units are on Ocean Pathway.  The ruling allows the Camp Meeting to change ground rent charges according to the sale price of the unit.

Here are links to two of our three Blogfinger February, 2017 posts  about this subject. This court ruling can have major implications regarding the condo market in OG.  The lawyer for the condo owners has recommended an appeal.

Blogfinger article Feb. 17, 2017 on ground rents

History of ground rents in OG

 

To the Editor:

I am Gorton Wood and  I live at 40 Ocean Pathway;  I am one of the litigants in the ground rent lawsuit.

In 2007 when I purchased my 1,090 square foot condo (two bedrooms and one bath,) I was given a ground rent spreadsheet schedule by OGCMA. It was titled “New Condo/Townhouse Ground Rent.” It covered a period of 12 years. The first three years I paid 1% of the sale price of my condo or $475.00 per year. The second three years it went to 1.5% of my sales price or $712.50 per year. The third three years it went to 2% of my sales price or $950.00 per year. The final three years it grew to 2.5% of my sales price or 1,187.50 per year. Then beginning year 13 and going on forever [hold your hat], it was going to be tied to the Consumer Price Index (CPI) which could be 3%, 4%, 5% annually, who knows. I could end up having to pay an annual ground rent of $3,000 or more annually.

On two occasions I went to the OGCMA and demanded to have someone explain  who cooked this up (Jack Green—I learned from another source) and  when did they cook this up?  No one would speak to me. Then in 2014 I wrote out my ground rent check and sent a message to the OGCMA saying that when they gave me a meeting I would bring my check. They never responded. In 2015 I did they same thing and again they refused to grant me a meeting. Then I received a letter from their law firm in Freehold saying if I did not pay immediately, they would prosecute me.

I am willing to go to any length, even alone, to have this situation corrected. I don’t believe any of the owners, myself included, expect to not pay ground rent, but for God’s sake make it fair. I actually wrote the OGCMA and their law firm a letter saying I was confident I could get every owner at 40 Ocean Pathway and 30 Ocean Pathway to agree to $200.00 a year. They wrote back basically telling me to take a hike.

GORTON WOOD

Ocean Grove, NJ, April 10, 2017

The writer is a resident of a condominium at #40 Ocean Pathway.

 

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