If you are the seller, notice that the lien must be satisfied before title can be transferred to a new owner. If you are a buyer, notice that the lien must be paid -- thus affecting the amount of your new equity, before title is transferred.
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.
Your association counsel is best prepared to help you answer this specific question.
An involuntary lien would be a judgment lien by a creditor, a lien for unpaid property taxes or income taxes, a demolition lien, a lien for unpaid common expenses or homeowners association dues or a mechanic's lien. Contrast that with a lien you granted in your property such as a mortgage which would be a voluntary lien.
It is only mandatory if you have a mortgage or lien on the home.
Association counsel -- or the attorney who help the association place the lien, can help you release it, or instruct the owner as to how to go about this action.
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.
You are not clear about who you're making payments to: the mortgage company for your mortgage, or to the association to pay assessments that are in arrears. If you mean payments to make up arrears, and the association filed a lien on your title, review the agreement that you made with them about making payments. It's possible that filing a lien is part of your agreement in some way. Or, that the association has filed a lien against you in error. If you mean payments to pay your mortgage, and you are not paying your assessments, your association filed a lien to collect monies that you owe in past-due assessments. (You have to pay both: mortgage and assessments.) If your assessments are up to date, check with the board to better understand why a lien has been filed by the association on your title.
A homeowners' association would file a labor and materials lien entitled Assessment Lien. See the HOA covenants for more information on liens. I would recommend that the HOA retain a real estate attorney to prepare and file the liens.
The process of distributing the funds received from a foreclosure should be part of the foreclosure documentation and process. You can find the answer you want in those instruments.
Only a lien holder can require a borrower to carry insurance.
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.
Apparently the association owes a debt over which a lien has been filed. Effectively, the lien can cloud the title of all the units/ homes in the association. It is in the best interests of all the members and of the association's board to settle this matter quickly and file a release of the 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.