[Durham INC] Fw: Legislative Update - New Bill

[M. W. Shiflett - Hotmail]

An fyi to Homeowners Associations on the INC listserve from Jim Slaughter.

Mike Shiflett
(forwarded with permission)


----- Original Message ----- 
From: Jim Slaughter 
To: Jim Slaughter 
Sent: Thursday, February 28, 2013 9:25 AM
Subject: Legislative Update - New Bill


This week HB 175 was filed by State House members Rodney Moore (Mecklenburg), Kelly Alexander (Mecklenburg), and Susi Hamilton (Brunswick/New Hanover) entitled "HOAs/No Home Foreclosures: An Act Providing that Homeowner Associations May Not Foreclose on Association Assessment Liens."  The proposed bill would do what its title suggests-prohibit any type of foreclosure action in associations when an owner fails to pay assessments.  Such a law would rewrite the contract the owner signed when they purchased in a community association and would require that other owners make up the difference for any unpaid assessments or that the association bring a full-fledged and expensive lawsuit against any nonpaying owner (which would also increase paying owners' assessments).

 

This is similar to a bill from a prior session that did not gain traction.  In the event there is a committee hearing or further action on HB 175, I'll send further information.

 

Jim

_______________________________________________________ 
JAMES H. SLAUGHTER
ROSSABI BLACK SLAUGHTER, PA 
ATTORNEYS AT LAW





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jslaughter at lawfirmrbs.com  
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