What are HOA lien rights?

HOA lien rights refer to the legal rights of a Homeowners Association (HOA) to place a lien on a homeowner’s property if the homeowner has not paid their dues or assessments. A lien is a legal claim on the homeowner’s property as a way for the HOA to receive compensation if the homeowner does not pay their dues as expected. In Washington, if a homeowner does not pay their dues, the HOA can place a lien for that amount plus any interest and late fees on the property. In most cases, the lien lasts until the homeowner pays the dues in full or until the house is sold. The lien gives the HOA the right to foreclose on the house if the dues are still not paid in full. When a lien is placed, the homeowner is notified by the HOA, and it will typically appear on their credit report. This means the homeowner’s credit score and ability to borrow money may be affected. In addition, the HOA may charge additional fees and fines for late payments, which could add more costs for the homeowner. The HOA lien rights give HOAs an important legal tool to ensure that homeowners pay their dues and assessments on time. This helps ensure that HOAs have the resources they need to maintain the shared common areas and keep up with other necessary expenses. If a homeowner does not pay their dues, the HOA has the right to pursue action to collect that money, including placing a lien on the homeowner’s property.

Related FAQs

What is the procedure for amending an HOA's governing documents?
What kind of disputes are typically handled by HOAs?
What are the responsibilities of an HOA?
What is the procedure for changing an HOA board composition?
What is the process for initiating an HOA foreclosure?
What are the roles and responsibilities of an HOA treasurer?
How do I file a complaint against my HOA?
How can I protect myself if I am sued by my HOA?
What are the rights of an HOA homeowner?
What is the role of an HOA insurance policy?

What are HOA lien rights?

Related FAQs

Related Blog Posts