What is the bank’s obligation to pay assessments under the Michigan Condominium Act after a foreclosure?

MCL 559.169 allows for a Michigan condominium association to impose assessments against all co-owners in order to pay for the common expenses that are necessary to operate the condominium. When a co-owner fails to pay assessments, it places a strain on the condominium association’s budget for the year and unfairly results in an increased burden on the remaining co-owners as they are often forced to pay additional assessments to make up for a budget shortfall or go without services that were originally contained in the budget.   Read the article……………..


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