Paying first assessment extinguishes any unpaid of foreclosed condo unit, state court rules (IL)

A foreclosure does not necessarily erase unpaid condominium association assessments, the Illinois Supreme Court has ruled, but all a new owner has to do is start paying new assessments on the unit.   Read the article……….


Related Articles

Governor Signs Bill To Reduce Votes Required To Amend Condo and HOA By-Laws (MD)

Maryland Governor, Larry Hogan, has signed into law a bill which will reduce the number votes required to amend condominium

Safe Harbor: Lender Liable For Pre-Foreclosure Assessments After Failing To Foreclose HOA Lien (FL)

A recent decision by the Florida Second District Court of Appeal has once again brought to the forefront the issue of the application of an association’s lien subordination clause to a mortgage lender post-foreclosure

Ritz Highlands owners suing Marriott over timeshare plan (CO)

Plaintiffs who bought high-end fractional interest timeshares at the Ritz Carlton Club at Aspen Highlands are suing the Ritz and