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Roger, Lawyer
Category: Real Estate Law
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Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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Situation I am an owner in a NC condo complex. About 3/4 of

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Situation: I am an owner in a NC condo complex. About 3/4 of the units are sold and occupied. The bank that owns the mortgage on the remaining units has threatened foreclosure. If the bank is successful in foreclosing, is there any remaining obligation to provide the amenities that were originally promised by the developer, does the original HOA document still apply to the complex, and what rights do the current owners retain or loose?

If the owner loses the property to foreclosure, any agreement between the owner and condo members is void.


The HOA can continue on as usual, and all of the bylaws can remain in effect.

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