April 19, 2016
This article reviews some of the issues that may arise with an association member in default on their mortgage, and describes some potential options available to an association to address the issue.
Read More →
March 21, 2016
Condominium associations are solely dependent upon the collection of assessments from their members for their survival and to purchase and provide the goods and services necessary for the maintenance of the project for the benefit of its members. Thus, when a Co-owner files for bankruptcy, there is an understandable feeling that all is lost. However, that is not always the…
Read More →
November 14, 2015
In Moon Lake Condominium Association v RBS Citizens, Case No. 323476 (Michigan Court of Appeals, November 12, 2015, unpublished), the Michigan Court of Appeals held that junior lienholders, such as condominium associations, are not entitled to notice that surplus funds were collected from a foreclosure sale after the first mortgage of record was foreclosed on.
Read More →
October 12, 2015
Community associations are often faced with the challenge of collecting unpaid assessments from delinquent owners.
Read More →
October 1, 2015
A co-owner that withholds assessments will likely be faced with having to pay late fees, interest, legal fees and/or a lawsuit.
Read More →
May 20, 2015
It is important for the Board of Directors for the Association to continually review the Association’s receivables and aggressively pursue the collection of any delinquent accounts.
Read More →
