Tennessee Amends Condominium Lien Law to Clarify Lack of Superpriority Right
On April 19, 2016, Tennessee Governor Bill Haslam signed HB 2401, amending Tennessee’s condominium statue to make it clear that condominium associations cannot acquire a “superpriority” lien that trumps a first security interest on the same property. As a result of the amendment, it is now clear that under Tennessee law a condominium only has a “payment priority” interest – that is, the right to receive six months’ worth of delinquent common expense assessments owed by a unit’s owner when the mortgagee forecloses on the property. Read the article…….
After decades of struggling against a condo regulatory system that experts say perpetuates impunity and makes it easy to commit
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State Senator Linda Stewart has introduced legislation that would prohibit Home Owner’s Associations or HOA from charging late fines and