Legal Question in Credit and Debt Law in Minnesota

My town house needed to get a new roof, and siding. The association didn't have the money in reserve to do this so the city I lived in said that each owner could either pay the $33,000 or finance it over 15 years. I chose the 15 year route. Now I have the money and want to pay it off so I can sell the place, and they say that I can not because they want the interest. I have to pay the interest over 15 years. Is this legal?


Asked on 11/19/09, 12:20 pm

1 Answer from Attorneys
Sam Calvert Calvert Law Office

Details not completely clear. I would check with the City Clerk again. They may be tellling you that they have already certified a portion of the assessment to next year's taxes, and that you are paying interest on that, but not on the remaining 12 years or so of the assessment.

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Answered on 11/24/09, 4:04 pm


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