News & Analysis as of September 21, 2024

Foreclosure › Condominium Act

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Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -

Real Property, Financial Services, & Title Insurance Update: Week Ending May 27, 2022

Carlton Fields on 7/25/2022

Real Property Update - Foreclosure / Service of Process: Trial court properly denied the estate’s motion to quash service in a foreclosure lawsuit filed by the bank for the court’s failure to conduct an evidentiary hearing...more

Is a Foreclosure Crisis Looming in Our Nation’s Capital?

Bradley Arant Boult Cummings LLP on 3/20/2018

The District of Columbia Court of Appeals recently sent a new set of shockwaves through the mortgage industry in the nation’s capital when it released its decision in Andrea Liu v. U.S. Bank National Association. Having held...more

Favorable Ruling for Condo Associations in Second DCA

Shumaker, Loop & Kendrick, LLP on 12/16/2016

Recently, in Ventana Condominium Ass’n, Inc. v. Chancey Design Partnership, Inc., et al., 2016 WL 4259999 (Fla. 2d DCA), the Second District Court of Appeal held that the Plaintiff, Ventana Condominium Association, Inc. (the...more

Tennessee Amends Condominium Lien Law to Clarify Lack of Superpriority Right

Bradley Arant Boult Cummings LLP on 4/25/2016

On April 19, 2016, Tennessee Governor Bill Haslam signed HB 2401, amending Tennessee’s condominium statue to make it clear that condominium associations cannot acquire a “superpriority” lien that trumps a first security...more

Condominium Association Liens Have "Super-Priority" Over First Mortgage Liens, Rhode Island Supreme Court Holds

Ballard Spahr LLP on 2/19/2016

The Supreme Court of Rhode Island, in a 4-1 decision, recently joined a growing list of states that allow a homeowners or condominium association lien for delinquent assessments to take priority over, and potentially wipe...more

Sunset of Distressed Condominium Relief Act Extended

Bilzin Sumberg on 6/17/2015

The Distressed Condominium Relief Act enacted as Part VII of the Condominium Act in 2010 (“Act”) was a temporary measure to encourage absorption of unsold condominium units arising as a result of the Great Recession. This...more

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