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What's available to a developer who refuses to take legal action against those who refuse to pay assessments?

Tue Apr 29 2008, 19:00 - 60619 - Tech Tips - 2 answers
 
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Eddie
Home Buyer
in Chicago
Eddie, Home Buyer in Chicago in Chicago
Answers (2)
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Eric Marcus was FIRST TO ANSWER
Eddie, does the developer still control the association? And if I understand your question the lien is what he is unwilling to do i.e "refuses to take legal action". The unit owners will not be able to transfer title without a paid in full assesment letter from the association or developer regardless.

Wed Apr 30 2008, 05:45
 
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FIRST ANSWER
He can place a lien on the property so that the owner cannot sell the property until all back assessments are paid.

Tue Apr 29 2008, 19:20
Web Reference: http://www.esmrealty.com
 
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