Condo Media - April 2018 - 55

tax liens are typically purchased at the
value of the unpaid taxes. So, those
involved in the business at hand do
not pay market value, nor mortgage
balance value, nor do they have any
obligation to pay the association for
outstanding balances. Instead, they
may end up owning these units for
pennies on the dollar. For example, in
one reported case, a tax lien purchased
for under $1,100 resulted in ownership of property worth over $270,000.
Although some property owners have
challenged the legality of such circumstances, results from courts have not
been consistent.

In one reported case, a tax lien purchased
for under $1,100 resulted in ownership of
property worth over $270,000. Although some
property owners have challenged the legality
of such circumstances, results from courts
have not been consistent.

PROTECTING
THE ASSOCIATION
How can associations protect themselves from this type of loss? Once
again, part of the solution is sending
delinquent accounts to the association's
legal counsel in a timely fashion. The
attorney's title examination will reveal
any tax liens and the status thereof.
Also, if an association has any vacant
units, abandoned units or long-term
delinquencies, periodically check with
the municipality (or the Registry of
Deeds) regarding unpaid taxes or tax
liens. If the tax bill/lien is paid, the
tax lien foreclosure may be avoided.
Of course, many boards are likely to
find it repugnant to pay the tax bill of a
delinquent unit owner. But, it may very
well ultimately be in the association's
best financial interest, however, to pay
a few hundred (or even a few thousand)
dollars of tax bills if it prevents a tax
lien foreclosure that would otherwise
extinguish the association's lien(s) for
unpaid assessments, legal expenses, etc.
Perhaps the situation warrants some
application of the old adage that one
must "spend money to make money".
n GARY M. DADDARIO, ESQ., CCAL,
IS A PARTNER WITH THE LAW FIRM OF
WINER & BENNETT, LLP.

April 2018

55



Table of Contents for the Digital Edition of Condo Media - April 2018

Contents
Condo Media - April 2018 - BB1
Condo Media - April 2018 - BB2
Condo Media - April 2018 - Cover1
Condo Media - April 2018 - Cover2
Condo Media - April 2018 - Contents
Condo Media - April 2018 - 2
Condo Media - April 2018 - 3
Condo Media - April 2018 - 4
Condo Media - April 2018 - 5
Condo Media - April 2018 - 6
Condo Media - April 2018 - 7
Condo Media - April 2018 - 8
Condo Media - April 2018 - 9
Condo Media - April 2018 - 10
Condo Media - April 2018 - 11
Condo Media - April 2018 - 12
Condo Media - April 2018 - 13
Condo Media - April 2018 - 14
Condo Media - April 2018 - 15
Condo Media - April 2018 - 16
Condo Media - April 2018 - 17
Condo Media - April 2018 - 18
Condo Media - April 2018 - 19
Condo Media - April 2018 - 20
Condo Media - April 2018 - 21
Condo Media - April 2018 - 22
Condo Media - April 2018 - 23
Condo Media - April 2018 - 24
Condo Media - April 2018 - 25
Condo Media - April 2018 - 26
Condo Media - April 2018 - 27
Condo Media - April 2018 - 28
Condo Media - April 2018 - 29
Condo Media - April 2018 - 30
Condo Media - April 2018 - 31
Condo Media - April 2018 - 32
Condo Media - April 2018 - 33
Condo Media - April 2018 - 34
Condo Media - April 2018 - 35
Condo Media - April 2018 - 36
Condo Media - April 2018 - 37
Condo Media - April 2018 - 38
Condo Media - April 2018 - 39
Condo Media - April 2018 - 40
Condo Media - April 2018 - 41
Condo Media - April 2018 - 42
Condo Media - April 2018 - 43
Condo Media - April 2018 - 44
Condo Media - April 2018 - 45
Condo Media - April 2018 - 46
Condo Media - April 2018 - 47
Condo Media - April 2018 - 48
Condo Media - April 2018 - 49
Condo Media - April 2018 - 50
Condo Media - April 2018 - 51
Condo Media - April 2018 - 52
Condo Media - April 2018 - 53
Condo Media - April 2018 - 54
Condo Media - April 2018 - 55
Condo Media - April 2018 - 56
Condo Media - April 2018 - 57
Condo Media - April 2018 - 58
Condo Media - April 2018 - 59
Condo Media - April 2018 - 60
Condo Media - April 2018 - 61
Condo Media - April 2018 - 62
Condo Media - April 2018 - 63
Condo Media - April 2018 - 64
Condo Media - April 2018 - Cover3
Condo Media - April 2018 - Cover4
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201904
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201903
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201902
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201901
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201812
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201811
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201810
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201809
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201808
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201807
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201806
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201805
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201804
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201803
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201802
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201801
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201712
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201711
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201710
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201709
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201708
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201707
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201706
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201705
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201704
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201703
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201702
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201701
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201612
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201611
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201610
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201609
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201608
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201607
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201606
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201605
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201604
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201603
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201602
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201601
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201512
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201511
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201510
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201509
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201508
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201507
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201506
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201505
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201504
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201503
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201502
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201501
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201412
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201411
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201410
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201409
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201408
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201407
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201406
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201405
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201404
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201403
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201402
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201401
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201312
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201311
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201310
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201309
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201308
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201307
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201306
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201305
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201304
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201303
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201302
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201301
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201212
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201211
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201210
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201209
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201208
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201207
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201206
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201205
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201204
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201203
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201202
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201201
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201112
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201111
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201110
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201109
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201108
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201107
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201106
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201105
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201104
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201103
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201102
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201101
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201012
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201011
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201010
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201009
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201008
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201007
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201006
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201005
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_200904
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201003
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201002
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201001
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_200912
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_200911
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_200910
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_200909
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_200908
http://www.nxtbookMEDIA.com