DenaH (Texas)
Posts: 1
Posts: 1
Posted:
I want to know if i file a lien in Texas on a property and it is foreclosed on can we still recoup our assessments. Dena
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Filling a lien on a property in texas
Started by DenaH • 5 replies • 1697 views
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BrianB (California)
Posts: 2,820
Posts: 2,820
Posted:
not usually, but it could happen. Usually, when a home is foreclosed, all the money is gone, and your lien will never be paid.
RogerB (Colorado)
Posts: 5,067
Posts: 5,067
Posted:
Dena, don't know about Texas but we can and have in Colorado.
MaryA1 (Arizona)
Posts: 7,043
Posts: 7,043
Posted:
Roger,
Does CO have state law addressing this? This is a big problem in AZ. I used to think that if the HOA filed a lien b/4 the property was foreclosed they could recoup but have since been told this is not the case.
Does CO have state law addressing this? This is a big problem in AZ. I used to think that if the HOA filed a lien b/4 the property was foreclosed they could recoup but have since been told this is not the case.
RogerB (Colorado)
Posts: 5,067
Posts: 5,067
Posted:
Mary, read your Declaration. Our Declaration includes an automatic lien which runs with the land.
In Colorado there is a "super lien" which places the Association first in line for the last 6 months of assessments. Thus, if there is any equity in the property the HOA collects.
Yesterday I filed an updated lien on a property which is already in the foreclosure process by the mortgage company. It is currently owned by the estate of a person who died last year. Besides the lien, I also contacted the attoney who is handling the foreclosure. We try to cover all basis and often get all monies owed. The obligation remains; the problem is knowing the processes available for collection. We often receive the total delinquent amount which is collected by the title company at the time of the title transfer.
We have also filed with an out of state bankruptcy court on a previous owner who still owes money beyond the "super lien". It is interesting to note that the attorney for the Association could not file out of state so they asked us to do it. An example of when an attorney could not file but the managing agent could
In Colorado there is a "super lien" which places the Association first in line for the last 6 months of assessments. Thus, if there is any equity in the property the HOA collects.
Yesterday I filed an updated lien on a property which is already in the foreclosure process by the mortgage company. It is currently owned by the estate of a person who died last year. Besides the lien, I also contacted the attoney who is handling the foreclosure. We try to cover all basis and often get all monies owed. The obligation remains; the problem is knowing the processes available for collection. We often receive the total delinquent amount which is collected by the title company at the time of the title transfer.
We have also filed with an out of state bankruptcy court on a previous owner who still owes money beyond the "super lien". It is interesting to note that the attorney for the Association could not file out of state so they asked us to do it. An example of when an attorney could not file but the managing agent could
MaryA1 (Arizona)
Posts: 7,043
Posts: 7,043
Posted:
Roger,
Yep, my CCRs make mention of an automatic assessment lien. AZ also has an HOA state law addressing this; it is prior to all other liens except for first mortgages, liens recorded before the recordation date of the declaration and liens for r.e. taxes or other governmnental charges. I've been told that in most instances the delinquent assessments will not be paid when a mortgage co or bank forecloses. Best we can hope for is they will pay the assessments after taking possession of the home, but whatever was delinquent up til then, in most instances, is lost.
Yep, my CCRs make mention of an automatic assessment lien. AZ also has an HOA state law addressing this; it is prior to all other liens except for first mortgages, liens recorded before the recordation date of the declaration and liens for r.e. taxes or other governmnental charges. I've been told that in most instances the delinquent assessments will not be paid when a mortgage co or bank forecloses. Best we can hope for is they will pay the assessments after taking possession of the home, but whatever was delinquent up til then, in most instances, is lost.
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