Condominium and Property Owners' Association Acts; foreclosure on lien for unpaid assessments. (HB412)

Introduced By

Del. Vivian Watts (D-Annandale)

Description

Condominium Act; Property Owners' Association Act; foreclosure on lien for unpaid assessments; priority of certain liens.  Provides that a property owner or condominium association may conduct a foreclosure sale on a lien for unpaid assessments subject to the lien of a first trust. The bill also provides that such portion of the unpaid assessments due and owing the association for a period not to exceed three years that is directly attributable to providing the maintenance and upkeep of the common areas and such other areas of association responsibility expressly provided for in the declaration, including capital expenditures, shall be prior to all other liens and encumbrances, except real estate taxes. The bill contains technical amendments. Read the Bill »

Outcome

History