HOA lien
A claim against a property for unpaid homeowners or condo association assessments, which in many states the association can foreclose.
Definition
An HOA lien is a claim against a property for unpaid homeowners association or condominium association assessments, plus interest, late fees and collection costs. The association records a claim of lien in the county records, and in many states it can foreclose on that lien much like a mortgage lender.
In Florida, for example, a homeowners association must send written notice and wait 45 days before recording a claim of lien, then give another 45 days' notice of intent to foreclose before filing a foreclosure action, under section 720.3085 of the Florida Statutes. Priority against the first mortgage depends on state law, and some states give part of the HOA lien priority over the mortgage. A recorded HOA lien points to an owner who has stopped paying monthly bills, and the balance must be paid at closing. Order an HOA estoppel or payoff letter before you set your price.
Source: leg.state.fl.us
Read the guide
Taxes and liens · 8 min read
HOA Liens: When Unpaid Association Dues Put a Home at Risk
How an HOA lien arises, where it ranks against the mortgage, when the association can foreclose, and what buyers and investors should check first.
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Tax Delinquent Properties: How to Find Owners Behind on Property Taxes
How tax delinquent properties work, where county delinquency lists come from, how to read them, and how to reach owners before the tax sale.
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