Legal Question in Real Estate Law in Florida
Delinquent Association Dues
I am currently renting a condo unit. The owner of the unit is in considerable arrears on his association dues. The association has put a lien on his property. He wants me to purchase his unit. What can I do about the dues owed? Can the association set up a payment arrangement with me, the tenant? Is this heard of? Also, can payments on the lien, stop the lien? How does that work exactly, I know that it is not a novation, but does it buy more time, or is that just per the association?
1 Answer from Attorneys
Re: Delinquent Association Dues
Generally, the unit owner (the seller) must pay all liens and other encumbrances on the unit on or prior to closing.
For example, if the unit has $10,000 in liens resulting from unpaid maintenance assessments, and you are purchaing the unit for $100,000, then the seller would get the purchase proceeds, subject to the appropriate deductions for the payment of unpaid assessments ($90,000.00). Of course, it's never that simple. There are other closing costs, prorations for other expenses and, if there's a mortgage on the property, the mortgage will have to be paid as well.
You need a real estate lawyer experienced in condo or residential closings to help you with the preparation of the contract for the sale and purchase and to do the work necessary prior to closing to make sure your interests are protected. I urge you not to sign a contract or move forward on the deal without a real estate lawyer on your side.
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