A Co-owner Filed Bankruptcy, What Now?

Condominium associations are solely dependent upon the collection of assessments from its members for their survival and to purchase and provide the goods and services necessary for the maintenance of the project for the benefit of its members. Thus, when a Co-owner files bankruptcy, there is an understandable feeling that all is lost.    Read the article………


Tags assigned to this article:
bankruptcycollectionscondo

Related Articles

Should condominiums seek HUD qualification?

The Federal Housing Administration, or FHA, is a mortgage loan insurance provider. FHA is housed with The Department of Housing

Choosing an Attorney for Your Association: Narrowing the Field When Looking for Legal Representation

Not every condominium or homeowners’ association is going to run afoul of the law—the happy truth is that litigation and

Why one suburban development soared, and the other staggered (IL)

Two decades ago, the Chicago area collected a pair of peace dividends from the detritus of the Cold War: vast