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    NewYorker23's Avatar
    NewYorker23 Posts: 2, Reputation: 1
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    #1

    Aug 6, 2012, 12:10 PM
    Can a lien be placed on my home?
    I own a lot in a gated community(Pennsylvania) that has yearly dues. I cannot afford to pay them and am thinking about giving up the land to the community. They still will require me to pay the 2012 dues which I cannot afford.

    If I do not pay the dues can they put a lien on my home located in the state of New York?

    What are the repercussions of not paying the lot fees? Would chapter 8 bankruptcy be a thing to look into?

    Thanks,

    Broked & desperate in NY!
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Aug 6, 2012, 12:53 PM
    Quote Originally Posted by NewYorker23 View Post
    I own a lot in a gated community(Pennsylvania) that has yearly dues. I cannot afford to pay them and am thinking about giving up the land to the community. They still will require me to pay the 2012 dues which I cannot afford.

    If I do not pay the dues can they put a lien on my home located in the state of New York?

    What are the repercussions of not paying the lot fees? Would chapter 8 bankruptcy be a thing to look into?

    Thanks,

    Broked & desperate in NY!

    Yes, your assets can be liened.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #3

    Aug 6, 2012, 01:25 PM
    Read your contract. The contract should spell out what can be done. If this is an undeveloped lot and the developer is still selling lots, then they will probably just take it back and resell it. If they have stopped selling, they will probably come after you for the full extent allowed by your contract.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #4

    Aug 6, 2012, 01:31 PM
    Quote Originally Posted by ScottGem View Post
    Read your contract. The contract should spell out what can be done. If this is an undeveloped lot and the developer is still selling lots, then they will probably just take it back and resell it. If they have stopped selling, they will probably come after you for the full extent allowed by your contract.

    And, of course, they'd need to get a Judgment first -
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #5

    Aug 6, 2012, 01:37 PM
    True.

    But I used to work for a company that sold lots in vacation land developments. The only recourse we had in case of default was to reclaim the property. And that could be done without a judgment. Problem was, when I worked for them, they were winding down the operations so they didn't want the property back. Made for a challenging collection effort.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #6

    Aug 6, 2012, 04:50 PM
    Quote Originally Posted by NewYorker23 View Post
    ... Would chapter 8 bankruptcy be a thing to look into? ...
    Yes and no. Title 11, USC (the Bankruptcy Code) contains no Chapter 8. So if you can figure out how to file under a non-existent chapter, more power to you. :)
    NewYorker23's Avatar
    NewYorker23 Posts: 2, Reputation: 1
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    #7

    Aug 7, 2012, 06:32 AM
    Thanks to all the professionals so far.

    The land is a small parcel in a community that is only 40% developed. They have been raising the yearly dues at a pace above and beyond the current rate of anything else.

    I just want to cut the ties and give up the lot and take the loss. It was a bad investment from the get go. Live and learn...

    What would be the best way to get out of this mess?

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