[§514B-147 ] Association fiscal matters; other liens affecting the condominium.
259 words·~1 min read·
/hi/514b-147A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§514B-147 ] Association fiscal matters; other liens affecting the condominium.
(a)Except as provided in subsection (b), a judgment for money against the association, if recorded, is not a lien on the common elements, but is a lien in favor of the judgment lienholder against the common expense funds of the association. No other property of a unit owner is subject to the claims of creditors of the association.
(b)Whether perfected before or after the creation of the condominium, if a lien, other than a mortgage (including a judgment lien or lien attributable to work performed or materials supplied before creation of the condominium), becomes effective against two or more units, the unit owner of an affected unit may pay to the lienholder the amount of the lien attributable to the owner's unit, and the lienholder, upon receipt of payment, shall promptly deliver a release of the lien covering that unit. The amount of the payment shall be proportionate to the ratio which that unit owner's common expense liability bears to the common expense liabilities of all unit owners whose units are subject to the lien. After payment, the association may not assess or have a lien against that unit owner's unit for any portion of the common expenses incurred in connection with that lien.
(c)A judgment against the association shall be indexed in the name of the condominium and the association and, when so indexed, is notice of the lien against the units. [L 2004, c 164, pt of §2; am L 2005, c 93, §7]