HOA Super Lien — What is it and Why Should I Care?

In an HOA, owners who fail to pay assessments and other charges owed to the condo or homeowner’s association, will likely have a lien placed on the home by the association. A lien is a legal tool used to protect a creditor against default. When a home sells, the creditor with the lien must be satisfied using the proceeds of the sale. A mortgage is a common example of a lien. It’s not uncommon for a property to have more than one lien. State law determines the relative priority of the different liens. Priority is usually based on the recording date of the lien or, in the case of an association lien, as of the date that the association’s Declaration of Covenants, Conditions and Restrictions (CC&Rs) was recorded.     Read the article…………….

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