Bankruptcy basics for community association boards of directors

Over the last decade, community associations (like other businesses) have been forced to navigate the “Great Recession” and continued recovery. The “Great Recession” brought with it a significant increase in the number of personal bankruptcy filings across the country. Even now, personal bankruptcy filings continue to impact communities and their ability to collect assessments.  It is a common thought that the filing of a bankruptcy petition eliminates a community association’s ability to collect past due assessments. This is not always true. But, a number of factors will impact a community associations ability to claim, and collect, debts in bankruptcy.   Read the article………….

Related Articles

Judge rules for town in Long Beach (IN) property rights case

A LaPorte County judge on Thursday denied a claim by a group of Long Beach property owners that the town

New Florida Bill Presents Serious Concerns for Estoppel Certificates Issued by Community Associations

In addition to the bills pertaining to construction defect litigation that our firm’s Georg Ketelhohn shared his insights on in

Port Coquitlam (BC) couple must sell their condo after lengthy legal battle with their strata council: Appeal court

A Port Coquitlam couple will have to sell their condo after being found in contempt of court following a protracted