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How can a Homeowners association recover for damage to community property?
Wiki User
∙ 9y ago
Your answer depends on many variables including:
- What is the extent of the damage?
- Who caused the damage?
- What insurance carried by the association is invoked based on the damage?
- What is the deductible for the category of damage?
Best practices dictate that the damage be reported to the appropriate authorities -- criminal, if necessary, and then to turn the repair and its cost over to their master insurance policy carrier.
If no insurance covers the damage, the board may be required to assess additional monies from owners in proportion to their allocated interest in the common area ownership to pay for repairs.
Wiki User
∙ 9y 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 put multiple liens on your property?
Liens are a legal specialty and best practices dictate that you work with association counsel to file the proper lien, properly, to maximize the association's chances that it can recover money from this action.An improperly filed, improper lien may afford the debtor defense against your claim.
How does a homeowners association place a super lien against a property?
Liens are a legal specialty and best practices dictate that you work with association counsel to file the proper lien, properly, to maximize the association's chances that it can recover money from this action. An improperly filed, improper lien may afford the debtor defense against your claim.
Can an injured party include a homeowners insurance company in a claim to recover damages for personal property destroyed in a fire in the state of Idaho?
Homeowners Insurance is specific to the property of the named insured(s). It does not matter what state your in. If you are a third party not named on the Home insurance policy, then you nor any of your property would be covered and you would not have a valid claim.
Is there a standard lien form to file a homeowners association lien?
No. Liens are a legal specialty and best practices dictate that you work with association counsel to file the proper lien, properly, to maximize the association's chances that it can recover money from this action. An improperly filed, improper lien may afford the debtor defense against your claim.
What can a homeowners association do if your home is for sale and you do not pay?
If a homeowner is part of a homeowners association (HOA) and they are not paying their dues or assessments, the HOA typically has the right to place a lien on the property. This means that if the homeowner sells the property, the HOA will be entitled to collect the unpaid dues from the proceeds of the sale. Additionally, the HOA may take legal action, such as filing a lawsuit, to recover the unpaid dues.
When a peroson owns a property and has insurance policy on it Then sell the property to someone else and that persons has insurance on it and the property is distroyied by a fire. Who can recover an a?
The present owner is the only person who can recover.
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.
my property was sold at a foreclosure sale is there anyway to recover this property?
No you can't recover the property. It was sold to another person and they own it now and unless they put it up for sale they is no way for you to get it back. And regardless of whether or not they put it up for sale there is no way to recover the money you already paid toward the original mortgage note.
What is property finance?
Property finance is the immediate financial help to recover the financial gap that appears because of sudden property investment.
Who is responsible for a leased vehicle when the person dies if there was no cosigner but there is a surviving spouse?
If the married couple lived in a community property state at the time of the spouse's death, the surviving spouse may be responsible for the lease debt even if she was not an account holder. If the couple did not live in a community property state the creditor will be required to file a claim against the estate of the deceased to try to recover the debt.
Can an HOA collect unpaid dues on a forclosed property?
Whoever is the titled owner of the property is responsible for paying assessments. Read your governing documents to determine the steps that the association can take to collect debts that owners owe.
