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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: XBrit who wrote (95779)7/22/2008 12:24:13 AM
From: Cactus Jack  Read Replies (1) of 110194
 
XBrit,

Under California law, your assessment lien is subordinate to the first mortgage but is senior to any other encumbrances recorded after the lien. If your HOA forecloses on its assessment lien, it (or any buyer at the foreclosure sale) takes title to the property subject to senior encumbrances. If a senior encumbrance forecloses, your lien is extinguished.

Of course, if a buyer simply buys from the current owner, the lien should be satisfied in the course of the sale.

I'm not sure if that answers your question, but hope that helps.

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