381.9193 Lien for assessments.

385 words·~2 min read·/ky/chapter-381/381-9193

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)The association shall have a lien on a unit for any assessment levied against that

unit or fines imposed against its unit owner from the time the assessment or fine

becomes due and, if the assessment is payable in installments, the lien shall be for

the full amount of the assessment at the time the first installment becomes due. The

association's lien may be foreclosed in like manner as a mortgage on real estate.

Unless the declaration otherwise provides, fees, charges, late charges, reasonable

collection costs, attorney fees, fines, and interest charged pursuant to KRS

381.9167(1)(j) to (l), shall be secured by the lien and enforceable as assessments

under this section.

(2)A lien under this section shall take priority over all other liens and encumbrances on

a unit, except:

(a)Liens and encumbrances recorded before the recordation of the declaration;

(b)A mortgage on the unit recorded before the date on which the assessment

sought to be enforced became delinquent; and

(c)Liens for real estate taxes and other governmental assessments or charges

against the unit.

(3)Unless the declaration otherwise provides, if two

(2)or more associations have liens

for assessments created at any time on the same real estate, those liens shall have

equal priority.

(4)Recording of the declaration constitutes record notice and perfection of the lien. No

further recordation of any claim of lien for assessment under this section shall be

required.

(5)A lien for unpaid assessments shall be extinguished unless proceedings to enforce

the lien are instituted within five

(5)years after the full amount of the assessments

becomes due.

(6)Nothing in this section shall be construed to prohibit actions or suits to recover

sums for which subsection

(1)of this section creates a lien or to prohibit an

association from taking a deed in lieu of foreclosure.

(7)A judgment or decree in any action brought under this section shall include costs

and reasonable attorney's fees for the prevailing party.

(8)The association shall, upon written request, provide a unit owner a recordable

statement setting forth the amount of unpaid assessments against his or her unit.

The statement shall be delivered within ten

(10)business days after receipt of the

request and shall be binding on the association, the executive board, and every unit

owner.