Legal Corner


-List Your Site Here! -- Targeted Advertising For Just Pennies A Day! -Tell A Friend - Bookmark This Page

LegalCornerTM - Condominiums F.A.Q.'s

Find A Lawyer
Law Area:
 

State:
 

 
Search

Search:

Search By:

--Back

Q.What happens if I fail to pay my monthly association dues or a special assessment?

A.Pursuant to California law, if an assessment (regular monthly dues and special assessments) are not paid within 15 days of the due date, a delinquency occurs. Once delinquent, the homeowners' association (HOA) may impose a "late fee" of $10.00 or 10%, whichever is greater, unless the CC&Rs specify a lesser amount. If an assessment becomes delinquent for over 30 days, in addition to the late fee the HOA may assess interest up to 12% per year on the unpaid balance owed by the delinquent homeowner. If the homeowner still fails to pay the delinquent assessments, the HOA can seek a personal judgment and/or lien the delnquent homeowner's property for the amounts owed plus attorneys fees and costs. And most important, if the assessed debt reaches $1,800 or more or becomes more than one year old (even if only $100), the homeowners association (HOA) can initiate foreclosure proceedings.

dues, association dues, assessment, monthly condominium dues, monthly condo dues, homeowner association, homeowners association, hoa, condo, condominium, townhouse, townhome, town home, home owner association, condominium laws, condo laws, california condo laws, condominium codes, HOA laws




© Copyright 1999-2024 Melissa C. Marsh. All Rights Reserved. All Information on this website is subject to a Disclaimer and Use Agreement. This information is provided as general information only and should not be construed as legal advice. We advise you to seek the advice of competent legal counsel to address your own specific questions, facts and circumstances.