In a previous post, we discussed the advantages and disadvantages of a memorandum of lien foreclosure.
In this post, we will focus on the process of enforcing an Association’s judgment lien.
When an Association sues a delinquent owner, the Association seeks a monetary damages award (plus attorney’s fees and costs usually) from a court. If the Association wins, the court awards the Association a monetary judgment.
What’s a Judgment?
A judgment is merely a piece of paper that states that the delinquent owner owes the Association the delinquent amounts. A judgment is not a court order to pay. With the exception of child support or tax debts, delinquent debtors are generally not court-ordered to pay debts. Continue Reading Stepping Up The Pressure: Using a Judgment Creditor’s Suit to Enforce an Association’s Lien