For associations concerned with owner bankruptcies, quarterly assessments are preferred over annual assessments as post-petition assessments are not dischargeable.

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10/15/2012

Charles Jimerson Contact

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Under Florida law, it is better for an HOA to charge installment dues over the course of a year rather than allow for a lump sum payment at the beginning of each year. This is because post-petition debts, including post-petition HOA fees, are not dischargeable in a bankruptcy.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.