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At CAPITOL ♦ TITLE each of us will listen to you and strive to understand your concerns. Our experience will help us recognize your specific needs and respond to them.
Legal Bulletin
"Phantom" Liability for Condos and HOA Fees Provide Additional Motivation for Short Sale
Last April we distributed a legal memo (“Surprised Owners Find That Personal Liability Looms for Unpaid HOA And Condo Fees”) which explained that many owners of condominium units and homes which are subject to the payment of mandatory HOA fees have personal liability for the dues and assessments that accrue during the period of their ownership. Many are surprised to learn later that the personal liability for those fees that accrue during their ownership is not extinguished even if the property is foreclosed upon by the mortgage lender or if they sell the property in a short sale transaction.
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