---
title: Developer turns association funds over to bank in foreclosure move
description: "Developer has turned our property over to the bank with a \"DEED IN LIEU OF FORECLOSURE\"  Does the Assoc. have recourse against the bank to recoup those funds."
---

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# [Developer turns association funds over to bank in foreclosure move](https://www.condoassociation.com/blog/developer-turns-association-funds-over-to-bank-in-foreclosure-move)

 Written by [CondoAssociation.com](https://www.condoassociation.com/blog/author/condoassociationcom) | Mon, May 8, 2017 @ 10:30 AM

Our developer has turned our property over to the bank with a "DEED IN LIEU OF FORECLOSURE" at that time he owed the association $9,873. Does the Association have recourse against the bank to recoup those funds. We are a small community of 56 units and are looking at a major repair bill, because the developer opted to install rebuild equipment. Anyone in the same situation?

[View full post](https://www.condoassociation.com/blog/developer-turns-association-funds-over-to-bank-in-foreclosure-move)

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