Category Archives: Collections
CONDO LAW FAQ’S: Late Charges and Interest
Is it acceptable for a condominium association to charge a co-owner both late charges and interest on unpaid assessments? Yes. The Michigan Condominium Act, MCL 559.206 (c), authorizes an association to impose late charges on a delinquent co-owner’s account “as … Continue reading
Posted in Assessments, Collections, Late Charges
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Chapter 7 Bankruptcy: JUST KEEP SWIMMING: NAVIGATING THE WATERS OF A CO-OWNER’S CHAPTER 7 BANKRUPTCY FILING
By: Melissa D. Francis, Esq. Bankruptcy matters (chapter 7 bankruptcy) can be treacherous waters for Condominium Association Boards to navigate. Such issues should, in most cases, be referred directly to the Association’s legal counsel, who should be experienced in handling … Continue reading
Posted in Assessments, Bankruptcy, Collections
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