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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 else can I help you with?
Can a homeowners association force you to pay fees or dues?
Yes, a homeowners association can legally require homeowners to pay fees or dues as outlined in the association's governing documents, such as the bylaws or covenants. Failure to pay these fees can result in penalties or legal action by the association.
What are the costs associated with buying a home?
The costs associated with buying a home include the down payment, closing costs, home inspection fees, appraisal fees, property taxes, homeowners insurance, and potentially homeowners association fees.
Can a homeowner association or the other homeowners in a community take a homeowner to civil court for overdue assessment fees in Florida?
Yes, a homeowner association or other homeowners in a community can take a homeowner to civil court for overdue assessment fees in Florida. The homeowner association or other homeowners would need to file a lawsuit against the homeowner, seeking a judgment for the unpaid fees. If successful, the court may order the homeowner to pay the overdue fees, as well as any associated legal costs or penalties.
Are HOA fees paid in advance?
Yes, HOA fees are typically paid in advance, either monthly, quarterly, or annually, depending on the specific rules and regulations of the homeowners' association.
Can you quickclaim a deed if you owe assessment fees to the homeowners asociation?
The outstanding fees will show up at the closing. Obtaining a certificate that there are no fees due is an automatic part of a closing on a condo unit or a property subject to any association fees.
How much can a homeowners association charge in late fees for monthly assesments in Illinois?
Read your association's collection polity to discover the rate of late fees and how they are applied. Generally, state laws are not specific about late fees, but may set limits, such as 'four percent over T-bill rates'. Your association treasurer or auditor can answer your question specifically.
Who owes the condo fees incurred after a foreclosure?
Assessments are owed to the association by the condominium owner. If it's a bank, then the bank owes assessments.
What type of lien should a homeowners association file for overdue fees?
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.
Can Home Owner Association charge attorney fees to homeowners for a citation written by a lawyer?
Read your governing documents to determine how the fees should be charged, whether they should be charged to a limited number of owners, or to all owners in the association. Apparently, a citation was required to settle a difference of opinion among owners, or between owners and the board. Yes, this is association business, and yes, the fees should be charged to owners.
How much are estoppel fees in palm beach county?
Estoppel fees in Palm Beach County can vary depending on the specific homeowners association (HOA) or condominium association. Typically, these fees range from $100 to $400, but some associations may charge more. It's advisable to check directly with the specific HOA or management company for the most accurate and up-to-date information regarding their estoppel fees.
What are the differences between living in a neighborhood with a homeowners association (HOA) versus living in a neighborhood with no HOA?
Living in a neighborhood with a homeowners association (HOA) typically means following certain rules and paying fees for maintenance and amenities. In a neighborhood with no HOA, residents have more freedom but may need to handle their own maintenance and upkeep.
Must a homeowner be notified of late association fees by certified mail?
The specific legal requirements for notifying a homeowner of late association fees may vary depending on the jurisdiction and the governing documents of the homeowners association. In some cases, certified mail may be required, while in others, alternative methods such as regular mail or email may be sufficient. Homeowners should refer to their association's governing documents or consult with a legal professional to determine the exact notification requirements in their situation.
