Legal Question in Real Estate Law in New York
Condo/Townhouse Homeowner Association Property Lien
After a lien is made by a condo association for unpaid fees and the payment is made in full, how long do they have before they remove the lien? Also, can they(homeowner association) move to forclose the property for unpaid association fees? Is this legal for a homeowner association (not a bank) to try to forclose for a non mortgage?
1 Answer from Attorneys
Re: Condo/Townhouse Homeowner Association Property Lien
Usually 30 days from receipt of payment and clearance of funds. This is not hard and fast and further delay would allow you to sue to get the release filed. If the fees remain unpaid and a suit results in a judgment, the judgment could result in a foreclosure suit. Any lien-holder, and a judgment creditor is a lien-holder, can bring a foreclosure suit. These are general rules and without reading the Condo documents, I cannot be more specific.