Rhode Island Supreme Court Rules That Condominium Assessment Liens Could Extinguish First-Priority Mortgages

First mortgage holders in Rhode Island beware: in a 4-1 decision handed down on December 4, 2015, the Rhode Island Supreme Court has ruled that pursuant to the Rhode Island Condominium Act, RIGL § 34-36.1-1.01 et seq., liens for six months of unpaid common fees prior to the foreclosure have super-priority status, and can extinguish first-priority mortgages under certain circumstances.    Read the article………….


Tags assigned to this article:
condolienRhode Island

Related Articles

The Wisconsin Supreme Court Provides Associations a Powerful Tool in the Fight Against Blight

The Wisconsin Supreme Court has taken a stand against banks that are dragging their feet foreclosing properties that have been

North Carolina Case Law Update: Community Covenants’ Impact on Club Operations

This decision illustrates the importance of reviewing and considering the impact of restrictive covenants on operations of a club or

BK Heights (NY) condo board sues Magic Johnson’s firm over alleged building defects

The condo owners at the 39-unit, six-story conversion of the former Peak Mason Mints Candy Factory seek $2 million in damages.