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3/7/2012 10:14:34 AM
 
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Section 5: OPA Board Subject: OPA Loses IRS Case Msg# 823933
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| Thanks for the information, so if we get a judgement against the property and it's sold we are out of luck. If we get a judgement against the owner chances are slim we collect, if they didn't pay the assessment what would cause us to think they would pay a judgement? What if anything do you think we should do to collect the money? | ||||||
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For reference, the above message is a reply to a message where: Do not confuse property taxes with HOA assessments. You are correct that all property taxes must be paid at time of transfer. If a bank forecloses on a property all unpaid HOA assessment dollars are lost. From the date of foreclosure the bank becomes responsible for all future HOA assessments. |
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