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Condo Common Charge Lien Foreclosure is Sometimes Necessary – Don’t Stop at That

Home UpshotCondo Common Charge Lien Foreclosure is Sometimes Necessary – Don’t Stop at That
Condo Common Charge Lien Foreclosure is Sometimes Necessary – Don’t Stop at That

Condo Common Charge Lien Foreclosure is Sometimes Necessary – Don’t Stop at That

July 24, 2020 Posted by Team Colbert Law Upshot

Common charge lien collection sometimes takes a long time and even more so during a pandemic. But, in the end condo boards may have to pull the trigger on foreclosure. Deals can be negotiated during the process while the heat is turned up on delinquent owners, or a new owner who can pay their share of common charges can be substituted once foreclosed. The foreclosure process takes time, but in the end it may be the only way to resolve delinquencies.  There are nuances that a condo board can take advantage of during the process and experiences counsel can guide you through them. 

The 4260 Broadway Condominium case is a good example. In the beginning of 2019, the condo board was faced with a unit owner with over $10k in arrears. A common charge lien was filed. A few months later,  a foreclosure action started.  A lot of paperwork followed and then a year later the court just issued a decision granting a default against the owner for not responding and the process goes on. Here is the decision. Getting caught in the process and just forging ahead without taking advantage of other things a condo board and management can be doing while the process goes on and on, would be a mistake. 

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About Team Colbert Law

Colbert Law is a New York and Connecticut law firm specializing in community association (condo, coop, HOA) general representation, litigation, real estate, business law, tax controversies and audits. We represent our clients in a cost effective way. Contact us at 646.216.2199

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