Apopka HOAs may levy regular and special assessments per FL §720.308. Unpaid assessments accrue interest up to 18 percent, late fees up to 25 dollars or 5 percent, and create liens enforceable by foreclosure.
FL §720.3085 authorizes HOAs to record claims of lien against a parcel for unpaid assessments and foreclose judicially. Regular assessments are set by the budget adopted per bylaws. Special assessments generally require member approval per the declaration. Statutory interest up to 18 percent per year and late fees (greater of 25 dollars or 5 percent of assessment) may be added. Unpaid assessments are joint and several obligations of the parcel owner and any successor. Before foreclosure, a 45-day notice of intent to record the lien and a 45-day notice before foreclosure are required. Estoppel certificates cost up to 250 dollars (299 dollars if delinquent).
Non-payment: lien recorded, interest/late fees accrue, foreclosure after notice. HOA procedural errors: lien/foreclosure can be invalidated.
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