[WSBARP] CCR question

[Jim Doran]

It is my understanding, recently gained, that the super-priority statutes in
Washington (and seven other states) means that the HOA lien is superior to
the prior mortgages, even though the HOA line may be later in time.  The
mortgage/DOT might be first in time to the actual specific HOA lien but the
mortgage/DOT are junior in legal status because of the need to have the fees
paid.  If the lender does not respond to s sheriff's sale, for instance, the
lender's security can be eliminated.

 

See attached cases.

 

James R. Doran

Attorney at Law

100 E. Pine Street - Suite 205

Bellingham, WA 98225

(360)393-9506

 <mailto:jim at doranlegal.com> jim at doranlegal.com

www.doranlegal.com

 

From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Jeanne Dawes
Sent: Monday, March 16, 2015 5:26 PM
To: WSBA Real Property Listserv (wsbarp at lists.wsbarppt.com)
Subject: [WSBARP] CCR question

 

Dear Listmates:

 

What is the rationale for subordinating the homeowner's association
lien/assessments to that of a first mortgage lender?  Is it because lender's
will not lend if there is no subordination, or can the CCR's not subordinate
the lien, and create a preference for unpaid (defaulted) homeowner lien
assessments that would have priority over subsequently recorded mortgages?

 

Jeanne J. Dawes

Attorney at Law

Gore & Grewe, P.S.

103 E. Indiana Avenue, Suite A

Spokane, WA 99207-2317

Voice:  509-326-7500

Fax:      509-326-7503

 <mailto:jjdawes at goregrewe.com> jjdawes at goregrewe.com

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