Kara Elgin & Clayton Volker featured in the USFN Winter 2015 Report
Missouri: Condo Lien Priority Law Changes
During and after the foreclosure process, the issue of priority between home/condominium associations and deeds of trust arises frequently. Both a lien recorded prior to the deed of trust that is to be foreclosed, and a lien against a former owner, would take priority and need to be cleared from title.
Home association liens and assessments are not controlled by a Missouri statute, and thus, are governed by individual covenants and declarations. These liens and assessments typically, but not always, subordinate to a first lien or purchase-money deed of trust. Condominium association assessments are governed by Missouri statute.
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