super lien

Performance Property Real Estate Question

What Is A Super Lien & Is NJ A Super Lien State

Q: Gerald, I have owned my condo for years.  My building only has 6 condo units and the owners manage the building ourselves to save money.  One of the owners is way behind on their monthly condo fees.  Is there anything the other owners can do?  Jackie, Elizabeth, NJ A: The simple answer to your question is yes, there is something you and the other owners in your building can do–you can record a lien for the unpaid condo fees on the unit owned by the delinquent owner. After you record a lien, you have the option of foreclosing on the condo unit in question. However, if the delinquent owner has a mortgage on their condo unit, your lien for […]

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