What happens if a condo board member violates their fiduciary duty?

In Virginia, if a board member of a condominium complex violates their fiduciary duty, they can be held liable by the condo owners for the harm caused by their breach of duty. This means that the board member can be forced to repay any damages, losses, or costs resulting from their neglect or mismanagement of the condominium’s funds or property. The condo owners may have legal options to bring a case against the board member in court, seek damages or other compensation, and force the board member to resign. The condo owners may also have the right to vote to remove a board member if they are found to be in breach of their fiduciary duty. This can also be done by the other members of the board. The condo owners also may have the right to take legal action against the board collectively, even if the breach of fiduciary duty was committed by a single board member. This could involve filing a lawsuit against the board and its members for damages, or seeking other forms of compensation. Condo owners can take steps to protect their rights and interests if a board member fails to uphold their fiduciary duty. If a problem is suspected, condo owners should contact their association, obtain legal advice, and consider other options for dealing with the issue.

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What happens if a condo board member violates their fiduciary duty?

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