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Condo | HOA Lawyers

Condominium Collections: Why Foreclosure is the Best Option

The Board of Directors of a condominium association has a fiduciary duty to make sure that all owners pay their dues and assessments. It is important that associations develop a collection policy and follow it consistently, as a collection policy of doing nothing could be a breach of a board’s fiduciary duty. Having knowledgeable and experienced legal counsel is an integral part of any condominium association collection policy – it makes a difference.

 

 

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Partners Dan Miske and Lydia Chartre presented at Wisconsin’s Chapter of CAI on reserves and lending

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