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Can a person abandon a condominium with no mortgage owed without ramifications from the homeowners association for future assessments for extensive neglected repairs?
Mowimbi
Any person can walk away from most any responsibility. And there are usually ramifications.
Read your governing documents to remind yourself of your responsibility to pay assessments, including future -- even special -- assessments. As well, you can determine the process available to the board to pursue you to collect these assessments.
You may also decide to pursue your board legally and make a claim against their directors' and officers' insurance policy for their negligence in maintaining the property.
The board, as well, has a fiduciary responsibility to the association, and in some states -- Washington state, for example -- a responsibility to 'preserve, maintain and protect' the real estate assets of the association.
If you abandon the property, it will be handled like abandoned property. It may become a blight in the community, the neighborhood, and could become occupied by 'squatters' or stripped of its interior fixtures. In this case, you may be liable for its nuisance value.
As an alternative, you could offer to sell the unit at a ridiculously low price, thus removing yourself from any future property tax liability, legal responsibility, and in this case -- it sounds like -- a special assessment for extensive neglected repairs.
All this is intended to be practical advice: I am not an attorney or a real estate agent.
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∙ 14y ago
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Can a homeowners association file a lien against you for overdue fines only if assessments and dues are all paid.?
If your assessments and dues were overdue when you paid them and if the homeowners association has the right to assess overdue fines then the answer is yes.
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An assessment lien is a legal claim on an owners property for collateral against delinquent assessments for a homeowners' association. They are provided for in the governing documents of an association.
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Your question sounds like there was an original HOA, which was superseded by a new HOA. Every HOA collects assessments to operate the community, and as an owner, your governing documents define your responsibilities to pay and the association's responsibilities to collect assessments. The new HOA has its own form of assessments, regardless of the form of assessments paid to the original HOA.
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Can a Florida Homeowners Association in which membership is not required have the power to make assessments?
Homeowner associations are not voluntary: purchasing property governed by an association means that the owner is obligated to abide by the governing documents. Additional memberships, such as use of pool, golf course, club house and so forth may be optional. Assessments are collected from owners to support the operation of the association's business. If your governing documents subject you to paying assessments, and the board has the power to assess them, then they are due and owing.
Does the bank pay homeowners association fees after the sheriff sale?
An association-savvy attorney can help you understand your state law -- there is no federal standard about how proceeds are used from this sale. Depending on the actions taken by the association, i.e., a lien taken out against the title based on overdue assessments, the proceeds from the sale may be used to pay some assessments, based on the lien priority and the other debts owed for which the sheriff sold the property. The bank may be subject to paying assessments if they acted to foreclose the property, and owned it without paying assessments. Again, action of the association is key here.
What has the author William D Clarke written?
William D. Clarke has written: 'The young pathfinder's book of oceans, streams, and glaciers' -- subject(s): Glaciers, Juvenile literature, Ocean, Rivers 'Field data for the Isaacs-Kidd Midwater trawl collections of Scripps Institute of Oceanography' -- subject(s): Isaacs-Kidd Midwater Trawl (Ship), Monsoon Expedition, Trawls and trawling
Can a chapter 7 protect you from Homeowners Association assessments?
Filing for chapter 7 bankruptcy does not typically protect you from homeowners association (HOA) assessments. HOA assessments are considered secured debts, which are not typically dischargeable under chapter 7 bankruptcy. This means that you would still be responsible for paying these assessments even after filing for bankruptcy.
Do you capitalize the word homeowners association?
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Should Homeowners Association be capitalized in a sentence?
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