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When a lien is in place against a home for nonpayment of HOA dues as the amount due increases with time does one have to update the amount due on the lien?
Wiki User
∙ 10y ago
The answer depends on the details and the laws in the jurisdiction and whether the buyer is represented by a competent attorney if the property is sold. The original lien is only good for the amount set forth in the lien. A new lien must be recorded that reflects new charges. Some liens do not recite an amount only that unpaid fees are due. A buyer's attorney would check with the HOA to determine the full amount due. If the property was sold, those charges would be paid off from the proceeds of the sale before the net proceeds are turned over to the seller.
The answer depends on the details and the laws in the jurisdiction and whether the buyer is represented by a competent attorney if the property is sold. The original lien is only good for the amount set forth in the lien. A new lien must be recorded that reflects new charges. Some liens do not recite an amount only that unpaid fees are due. A buyer's attorney would check with the HOA to determine the full amount due. If the property was sold, those charges would be paid off from the proceeds of the sale before the net proceeds are turned over to the seller.
The answer depends on the details and the laws in the jurisdiction and whether the buyer is represented by a competent attorney if the property is sold. The original lien is only good for the amount set forth in the lien. A new lien must be recorded that reflects new charges. Some liens do not recite an amount only that unpaid fees are due. A buyer's attorney would check with the HOA to determine the full amount due. If the property was sold, those charges would be paid off from the proceeds of the sale before the net proceeds are turned over to the seller.
The answer depends on the details and the laws in the jurisdiction and whether the buyer is represented by a competent attorney if the property is sold. The original lien is only good for the amount set forth in the lien. A new lien must be recorded that reflects new charges. Some liens do not recite an amount only that unpaid fees are due. A buyer's attorney would check with the HOA to determine the full amount due. If the property was sold, those charges would be paid off from the proceeds of the sale before the net proceeds are turned over to the seller.
Wiki User
∙ 10y ago
Wiki User
∙ 10y agoThe answer depends on the details and the laws in the jurisdiction and whether the buyer is represented by a competent attorney if the property is sold. The original lien is only good for the amount set forth in the lien. A new lien must be recorded that reflects new charges. Some liens do not recite an amount only that unpaid fees are due. A buyer's attorney would check with the HOA to determine the full amount due. If the property was sold, those charges would be paid off from the proceeds of the sale before the net proceeds are turned over to the seller.
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