Condo Q&A

What happens to condo owners when the State and IRS issue liens?

Written by CondoAssociation.com | Fri, Aug 20, 2010 @ 01:38 PM
I own a unit in a 182 unit condo in Florida. The State of Florida has a tax lien of $11,000 on the Condo Association and the IRS is going to lien for in excess of $98,000.  The Condo Association does not have the money to pay the back taxes and penalties and interest. What happens to the owners in this situation?