When unit owners fall behind on payments, associations face budget shortfalls. Legal collection and foreclosure remedies help resolve these delinquencies, restore cash flow, and ensure consistent enforcement of community covenants and financial responsibilities.
Placing a Lien for Unpaid Charges
Under New York law, associations can assert a lien on a property when an owner fails to meet their payment obligations. This lien prevents transfers or refinancing until the debt is satisfied, securing the board’s position.
Why Foreclosure May Still Be Required
Although a lien protects the association’s claim, it doesn't always result in timely payment. Many boards choose to foreclose, forcing resolution and allowing the association to pursue the amount due through legal action.