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Illinois Appellate Court Holds that Condominium Association Entitled to Collect All Unpaid Assessments from Foreclosure Purchaser

/ Owner - November 7, 2024

Assessments are the lifeblood of a condominium association. Thus, when a unit owner becomes delinquent on their assessments, it is imperative that the community association act swiftly (and legally) to try to recoup any of the unpaid assessments. One option a condominium association has is to file a foreclosure action against the unit. However, often times when a unit owner fails to pay their association assessments, they also have likely failed to make their mortgage payments leading to the first mortgagee to initiate a foreclosure action against the unit. Generally, if a condominium association has a lien for any unpaid assessments, the lien will be extinguished in a foreclosure sale.    Read the article…………………………….

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