| Some of the dates in the timeline may vary depending on circumstances. |
| Day 1 |
Assessments are due (normally the 1st day of the month). |
|
16 |
A late fee of 10% or
$10.00, whichever is greater (unless CC&Rs specify a smaller amount) may be levied 15 days after assessments are due. (Civ. Code §5650(b)(2).) However, the 15-day period may be longer if an association's governing documents so specify.
|
|
30 |
The association may charge interest at 12% per annum (unless the CC&Rs set
a lower
rate). (Civ. Code §5650(b)(3).) |
|
46 |
Pre-lien letter with copy
of the association's assessment collection policy and notice of owner's
right to meet and confer (IDR). (Civ. Code §5660(e); Civ. Code §5670).) |
| 76 |
Record lien against the property (Notice of
Delinquent Assessment) and give notice of right to IDR or ADR. (Civ. Code §5705(b).) |
| 107 |
Notice of Default and Election to Sell. |
| 218 |
Sale of Unit and start of 90-day redemption period.
|
| 308 |
Owner's redemption rights terminate. |
See
Graphical Chart of foreclosure timeline.
ASSISTANCE: Associations needing legal assistance can
contact us.
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