27A V.S.A. §3-116
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VCIOA — Lien for Assessments
Creates an assessment lien with super-priority for 6 months of common expense assessments over first mortgages. Foreclosure follows judicial process under 12 V.S.A. chapter 172. Association may not commence foreclosure unless the owner owes at least 3 months of assessments, has failed to accept a payment plan, and the executive board votes to proceed against that specific unit.
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Assessment
| Ref | Requirement |
|---|---|
| Creates an assessment lien with super-priority for 6 months of common expense assessments over first mortgages. | |
| (c) | Common expense assessments which would have become due in the absence of acceleration during the six months immediately preceding institution of an action |
| (j) | The association's lien may be foreclosed pursuant to 12 V.S.A. chapter 172 |
Enforcement
| Ref | Requirement |
|---|---|
| Foreclosure follows judicial process under 12 V.S.A. |
Governance
| Ref | Requirement |
|---|---|
| Association may not commence foreclosure unless the owner owes at least 3 months of assessments, has failed to accept a payment plan, and the executive board votes to proceed against that specific unit. |
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