One of the most common questions we are asked following a foreclosure of a condominium or community association property is: what is the Lenders Responsibility for Condominium and Homeowners Association following a Sheriff's Sale in Pennsylvania?

            The brief answer is that the lender is required to pay for six (6) months of common assessments.  The six month period is the six (6) months prior to the filing of the Complaint in Mortgage Foreclosure.  The lender is not required to pay any assessments following the sale until the Sheriff’s Deed is executed and delivered to the lender.

            Although condominium associations and their counsel may dispute these timeframes, there is sufficient support in the statutes for these positions.  The Association or their counsel is encouraged to call our office if the parties cannot otherwise agree on an appropriate amount.

For More Information Contact:

Goldbeck McCafferty & McKeever
Suite 5000
Mellon Independence Center
701 Market Street
Philadelphia,  Pennsylvania 19106
Tel: (215) 627-1322
FAX: (215) 627-1389
Internet: info@GoldbeckLaw.com