Condo FAQs: “Limited Priority” Liens Pursuant to the New Jersey Condominium Act

Question: I’ve heard that when a mortgage lender forecloses on a condominium unit, the association is entitled to six (6) months of assessments. I’ve also heard that the association has “limited priority” over the mortgage. Is that true? What does that really mean?    Read the Q&A………..


Related Articles

Mind the Gap: Understanding Your Insurance Responsibilities

Insurance is designed to be there for us when we need it most. Without knowing the full extent of our

New Jersey Supreme Court Issues Important Ruling for Developers and General Contractors Regarding Coverage Under CGL Insurance Policies

The New Jersey Supreme Court’s August 4, 2016 holding in Cypress Point Condominium Association, Inc. v. Adria Towers, LLC is

What Happens Next after Cypress (NJ)

The New Jersey Supreme Court in Cypress Point Condominium Association, Inc. v. Adria Towers, LLC., et al. (A-13/14-15)(076348) finally put