The District of Columbia Court of Appeals recently reversed a lower court’s decision granting summary judgment to a condominium association and held that the association’s foreclosure of a “super-priority” condominium lien may not have extinguished an otherwise first-priority mortgage on the property. See U.S. Bank Nat’l Ass’n v. Green Parks, LLC, No. 16-cv-842 (D.C. Mar. 13, 2018). In the case, the borrower obtained a loan to purchase a condominium. In 2013, the condominium association foreclosed on the property because of the borrower’s failure to pay the association fees, and the defendant third-party purchaser obtained the property. Read the article………………
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