Collection Timeline
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COLLECTION TIMELINE

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.

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