May condominium associations obtain title to delinquent owners’ units when they do not pay assessments?
Yes. Illinois Condominium Associations may file liens against the title to an owner’s unit when that owner does not pay assessments due on the lien. The association may then proceed to court and seek to foreclose this lien. Once the court enters a judgment of foreclosure for the condominium association’s assessment lien and the association may proceed to seek a judicial sale of the property. The association or a third party may purchase the unit at the judicial sale for the unpaid assessment value. This, upon confirmation, will remove title from the owner and place it in the hands of the association or buyer. If there is a buyer at this foreclosure sale, the proceeds of that sale fund the balance due of assessments in the lien. Owners may stop this process by paying the balance that is due, plus any accrued attorneys’ fees, costs, and accrued additional assessments.