Saturday, June 16, 2012

4 more HOAs sued over collection costs deemed improper - VEGAS INC

4 more HOAs sued over collection costs deemed improper - VEGAS INC: Those attorneys regularly sue HOAs over what they call unauthorized collection costs and other charges included in liens that HOAs file against properties whose owners are delinquent on assessments and that ultimately are foreclosed on.

State law says HOAs can file ''Super Priority Liens'' that are ahead of mortgage liens, meaning the HOA lien amounts have to be paid for the buyer of a foreclosed property to obtain clear title.

Adams and Premsrirut insist these Super Priority Liens are limited under state law to six or nine months of assessments, depending on the circumstances.

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