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JimG (Washington)
Posts: 5
Posted:
I am the Treasurer of our HOA in the State of Washington. We pay our dues once a year. For non-payment, we have always refiled liens only once a year restating the new lien amount with added acrued interest and filing fees. Our liens always state an exact amount and if the lien is paid off prior to the next years filing, the owner still pays the previous years exact amount (i.e. it is not pro-rated as to the months/days since the last filing). I inherited the format from the previous Treasurer and am wondering if it is possible to word the lien in such a way that you would be able to receive pro-rated amounts since the last filing? If anyone has the appropriate wording that accomplishes this could you list it? -Jim
LisaS (Illinois)
Posts: 341
Posted:
We also charge assessments one time per year, and file liens on delinquent accounts. Due date is Feb. 1st, and if amount is unpaid as of March 1st, then we file amount due plus late fee and filing charges (including charge for release of lien)

Perhaps I understand you incorrectly, but did you want to charge pro-rated assessment as of date lien is paid on money not due until the following year? I don't see how you could charge for assessments not technically due in that instance.

Property liens can only be filed for amounts currently due/past due, and must be for an exact amount as it is a legal document(not variable or future potentially due amounts).

Again, I could just not be understanding your question....

Lisa

JimG (Washington)
Posts: 5
Posted:
"Perhaps I understand you incorrectly, but did you want to charge pro-rated assessment as of date lien is paid on money not due until the following year? I don't see how you could charge for assessments not technically due in that instance.

Property liens can only be filed for amounts currently due/past due, and must be for an exact amount as it is a legal document(not variable or future potentially due amounts). "
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Thanks Lisa for your insight. I think you may have actually answered my question when you said the Lien must be for an exact amount. Our situation is that When we file our lien we ONLY charge for the past due amount plus filing fee plus late charge. Our bylaws state that interest accrues on past due amounts at 12% interest. So, if the owner pays off the lien one month prior to refiling the previous lien they really only are paying off the past due amount and not including the 11/12ths of a years interest which has accrued due to the way the lien document is worded. Thanks again. -Jim

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