REAL ESATE LAWS AND REFERENCES 1.4
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by Land Asia Listings
- February 2, 2017
- Real Estate Laws
- 0
Consequences of non-payment of assessment of condo dues or association dues with homeowners association.
- The management body may constitute a lien on the delinquent condominium unit or housing unit by registering with the Register of Deeds a notice of assessment and delinquency.
- Such lien may be enforced in the same manner provided by law for the judicial or extra-judicial foreclosure of mortgage.
- Unless otherwise provided in the declaration of restrictions, the condominium corporation or homeowners association may bid at the foreclosure sale.
- The unit owner affected shall have the same right of redemption as in cases of judicial or extra-judicial foreclosure of mortgage.
