Do I need to keep paying condo association fees while going through a deed in lieu?
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Do I need to keep paying condo association fees while going through a deed in lieu?
Going through deed in ieu for almost 2 years now. Out of property at the request of bank.
Asked on July 26, 2011 New Hampshire
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Read the covenants, conditions and restrictions recorded on your property regarding monthly association dues owed by the property owner and the monthly invoices as to whom the association expects payment from and for.
These documents will control your question. In all likelihood, you are responsible for paying the homeowner's association the monthly fees for the common areas where your condominium is located as long as you are owner of record of the condominium subject to the monthly charges. This applies even though you are negotiating a deed in lieu of foreclosure to the mortgage company which has yet to be recorded.
When and if the deed in lieu of foreclosure is recorded, you will not be responsible for any charges assessed after title is no longer in your name.
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