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When an owner of a unit in a condo association or HOA is delinquent in paying his condo maintenance fees and
then the property goes into foreclosure, then to a sheriff's sale can the HOA
force the new owner to pay the past HOA dues of the previous owner as a condition of
the sale? We are in the state of Indiana.
I have tried to get someone in the
industry to tell me exactly what a sheriff's sale involves (including the
sheriff's office that I called 4 days ago have not heard back from yet) and so
far I haven't been able to get any answers.
Last week the owner of the condo unit said
that the information regarding his unit going to sheriff's sale is a mistake but as of
today the delinquent property is still being shown on the list for the Feb. 2 sale.
must be some way to get information about what liens are required after the amount listed by the sheriff is met and the highest bidder takes
ownership. I have been told that the owner who is not the developer, bought the
condo unit through his business or LLC and intends to bankrupt the condo unit to buy it
back through another business he currently owns for pennies on the dollar. As a
matter of fact he may have already bankrupted that shell and thus sending the
property into foreclosure. That sounds illegal.
How much access to that type of
information am I able to obtain before the sheriff's sale. I just want to know
if there are going to be complications after the fact if I am the highest bidder
on the property. Can the sheriff's sale be cancelled at any time prior to the
sale and if so under what conditions would it be?
Tags: Deliquencies, Bankruptcy, Foreclosure
posted @ Tuesday, January 12, 2010 7:57 AM by Cindi Waters
posted @ Tuesday, January 12, 2010 9:12 AM by Joe Schuirmann
posted @ Thursday, January 14, 2010 1:21 PM by Allison Cease
posted @ Monday, February 08, 2010 1:01 PM by Darron
posted @ Friday, August 13, 2010 8:52 AM by Alan D. Reuter
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