Boards must carefully consider lien priorities before deciding to foreclose on a unit-owner in serious arrears, as condos are subordinate to both the mortgage and real estate tax liens, and swift action is necessary to recover unpaid charges.
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Condo Boards Face Challenges in Foreclosure of Units with Unpaid Common Charges
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The Key to Collecting Overdue Common Charges
The bar for proving the need for foreclosure is high.
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When the Contractor Doesn’t Get Paid
What does a mechanic's lien mean for your building?
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Beating Out the Bank — For Now
For the moment, foreclosure is an option when dealing with condo arrears.
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Beware This Wrinkle in the Proprietary Lease
The fine print can complicate an eviction.
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The Many Moving Parts of a Foreclosure
Shareholder, buyer, and lender are all in the mix.
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Common Charges During Foreclosure
Section 339-z of the real Property Law needs to be amended.
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Common Charges During Foreclosure
41 legal experts on game-changing laws, rules, and cases.
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The Seesaw World of Condo Foreclosures
What exactly is “the first mortgage of record”?
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The Wake-Up Call
A Bronx co-op – confronting extinction – finds a road back.
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