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Sounds like the assessment is an on-going expense...

January 18, 2015 09:17PM
When you take title to real property at a Trustee's sale you step back in time and acquire the priority of the foreclosing lien when it originally recorded.

Since the 1st lien holder was just a lender...not an owner of the property they weren't liable for any HOA assessment. But when you took ownership of the condo unit at the bank's Trustee's sale you became the owner of the property at that time, and hence in that role, you are liable for any on-going assessment from that time forward.

So you figure your proportionate share of the special assessment from the time you bought the property...not before.

Hope this helps,

--------------------------Ward

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Subject Author Views Posted

HOA Special Assessment

Silverblue59 3813 January 08, 2015 10:05AM

Depends on the nature of the HOA lien...recurring vs. non-recurring

Ward-CA 2826 January 09, 2015 08:50AM

Re: Depends on the nature of the HOA lien...recurring vs. non-recurring

Silverblue59 2717 January 09, 2015 08:57AM

Sounds like the assessment is an on-going expense...

Ward-CA 2636 January 18, 2015 09:17PM



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