Property Ownership
A Minnesota condominium owner stops paying their monthly association dues. The HOA may file which type of claim against the owner's unit?
AA personal judgment against the owner only
BA lien on the condominium unit for unpaid assessments✓ Correct
CA criminal complaint with the county
DA request for receivership of the unit
Explanation
Under Minnesota Statutes Chapter 515B, a condominium association has the right to file a lien against a unit for unpaid assessments. This lien can be foreclosed, similar to a mortgage foreclosure.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
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