HOA dues
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HOA dues
I have an LLC that owns a lot in NC. The HOA has placed a
lien on the lot. If I sell the lot I know the lien has to be paid,
but the lien is a lot less then what is owed to the HOA for
past dues. So if the lot sells and the funds are enough to
cover the lien what happens to the other HOA fees or dues?
Asked on March 7, 2019 under Real Estate Law, North Carolina
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
If a creditor obtains a judgement lien that is not satisfied by the sale of the property, then the balance is still due and payable. In other words, the debtor still owes on it and is reponsible to pay it.
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
You will still personally owe any unpaid amounts which you incurred which are due to the HOA. They would have the right to sue you for the money, the same as any person (or entity) may sue anyone who owes them money. The debt does not go away; the might not choose to pursue it, but they could.
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