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Insight

Delinquent Owners Can Run, But They Cannot Hide

Feeling uncomfortable with  the length of time that it took for the  Office of Foreclosure to enter a Final Judgment of Lien Foreclosure for a Fort Lee condominium, I was excited when the week of the sheriff’s sale finally rolled around. After all, I made...

Condominium Associations: Fear Not The Dreaded Legal Fees

If your condominium association has delinquent owners, fear not the dreaded legal fees.  In a decision dated May 1, 2015, the Appellate Division confirmed what community association collection attorneys already know.  Condominium owners are statutorily and contractually obligated to pay monthly maintenance fees. Most governing...

To Receive Or Not To Receive, That Is The Question: Legal And Accounting Principles For Board’s And Associations To Consider When Contemplating A Request For Appointment Of A Rent Receiver

Undoubtedly, in the current economic climate, many community associations and boards are faced with the dilemma of dealing with and managing units that are vacant and have been abandoned by the owners. Generally, these units are burdened with significant debt and maintenance arrears that continue...