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Can a homeowners association sue for a lien amount if it has already been paid when the property was sold?
Gmhood
Sure--but they wouldn't win. If the lien was paid in full when the house closed, including any costs and fees allowed by law, they have no standing to sue. If you receive a summons, see a real estate attorney at once.
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∙ 15y ago
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What is the maximum amount a homeowners association can recover on a property bought at auction by a private investor in Colorado?
The answer you want is in the auction documents involved in your purchase. There is no standard.
Can a homeowners association lien impede a mortgage loan?
Yes, a homeowners association lien can impede a mortgage loan. If a homeowner has outstanding unpaid dues or violations, the homeowners association may place a lien on the property. This lien takes priority over a mortgage, making it difficult for the homeowner to refinance or sell the property without addressing the lien first.
How do you get insurance for external damage to homeowners association buildings?
Any damage to the association building can be collected through the tenants of the association. The tenants insurance will pay a limited amount for the repairs.
Can a homeowners association foreclose on property on which it has placed a lien?
MassachusettsThe Homeowner's Association could Petition the appropriate court for a judgment lien and if successful, record a lien against the debtors property. The property owner would not be able to sell or refinance the property without paying the amount owed which would begin accruing interest on the date of issue. Court costs would also be added to the amount owed.Washington StateRead your governing documents to determine the association's responsibilities and rights regarding foreclosure. Generally, if the association places a lien on your title, the lien is based on monies due from you which you have not paid.If the monies due are assessments, and your governing documents allow it, yes, the association can foreclose on your property and sell it to satisfy the debt that you owe.
What is the time period a Homeowners Association has to send its first assessment to a new property owner?
When you purchase property in an HOA, the assessment payment amount and due date are both part of your closing document package. The HOA may not automatically send invoices for assessment payments. Because there is no standard, your board treasurer can answer your specific question.
Is there a minimum amount a homeowners association can place lien on a home?
The minimum amount a homeowners association can place a lien on a home depends on the laws and regulations of the specific jurisdiction. However, in many cases, there is no specific minimum amount mentioned and associations may be able to place a lien for any outstanding dues or fees owed by the homeowner. It is best to consult local laws or seek legal advice for specific information regarding your jurisdiction.
Does homeowners insurance cover theft or robbery when theft occurred from another persons property?
Yes. Homeowners policies provide coverage for theft or any other covered cause such as fire, tornado, etc. when the property is located off premises. The amount of coverage is generally 10% of coverage C (Contents) for property located off premises. This covers property at a friends house, in a hotel on vacation, in your child's dorm room at college, and just about anywhere else. Homeowners policies is probably the best value there is in insurance due to the amount of coverages it provides for the low premiums.
How much commercial general liability coverage does a homeowners association need?
The amount of commercial general liability coverage a homeowners association needs can vary based on factors such as the size of the association, number of members, and potential risks involved. It is recommended to consult with an insurance professional to assess the specific needs of the homeowners association and determine an appropriate amount of coverage.
Regarding IRS Form 1120H for Homeowners Associations can Item C and Item D reflect the same dollar amount for expenditures?
I am trying to complete Form 1120H for our Homeowners Association and am having problems differentiating between Item C and D on the Form. Can you help me?Another AnswerYour association tax counselor is best prepared to answer this specific question, which is individual to your particular association..
How do you file lien for failure to pay homeowners association dues in nebraska?
In any state, an association can file a lien on a property, usually as a last resort, in order to collect unpaid monies owed to the association by the owner. Read your governing documents to determine the steps the association must take in advance of filing a lien -- the owner is owed due process -- and these steps are set out there. When it's appropriate, work with your association-savvy attorney to file the proper type of lien on the title for the amount owed, including interests and fees.
Does a homeowners association in Florida have to give notice to the property owner of their intent to file a lien prior to filing a lien?
Yes, in Florida, a homeowners association is generally required to provide notice to the property owner before filing a lien. The notice must be sent by certified mail and include specific information, such as the amount owed, a description of the violation, and a statement of the owner's right to request a hearing. This notice gives the property owner an opportunity to resolve the issue before a lien is filed.
Can homeowners insurance cover owners medical bills when hurt in a park?
No, That's what your Major Medical or Health Insurance policy is for. Homeowners Insurance is "Property Insurance". The very, very small amount of medical coverage offered on most home insurance policies is for accidental injuries to others while on your property.
