Do Homeowners Have to Pay Assessments Accruing During Foreclosure?

Assessments are the personal obligation of an owner during the time of his or her ownership of the property.  O.C.G.A. §44-3-232.  Thus, up until the time that title actually transfers, the owner is legally obligated for all accruing assessments.  Depending on the value of the property compared to the total lien amounts, a purchaser might elect to pay off any delinquent assessments to clear the title to the property. And, under the Georgia Property Owners’ Association Act (GPOAA), the purchaser would be liable for any unpaid assessments.  Also, if the property sells, the proceeds will be applied toward the assessments (to the extent the sale price is sufficient to pay off any existing mortgage).  If assessments are fully paid off from sale proceeds, the former owner will no longer be liable for the assessments because the assessments will have been paid.

 

 

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