Unpaid assessments become a homeowners association lien under Ind. Code § 32-28-14 once a notice of lien is recorded with the county recorder. The association may foreclose by court complaint, but not before 90 days and not later than 5 years after recording. The Act sets no late-fee or interest rate.
Under Ind. Code § 32-28-14, sums assessed by an HOA "but unpaid for the share of the common expenses" constitute a lien on the owner's real estate once a notice of lien (naming the association, owner, property, and amount, signed by an officer and acknowledged) is recorded with the county recorder; priority dates from recording (§ 32-28-14-5). The association enforces it "by filing a complaint in the circuit or superior court," which "may not be filed earlier than ninety (90) days" and "must be filed not later than five (5) years" after recording, or the lien is void (§ 32-28-14-8). A purchaser taking title through first-mortgage foreclosure is not liable for assessments that came due before acquisition (§ 32-28-14-7). The HOA Act (§ 32-25.5-3-3) requires the annual budget to be member-approved; late fees and interest are set by the declaration, not statute.
An owner who fails to pay assessments faces a recorded lien for the unpaid share of common expenses plus interest and costs the declaration allows, and ultimately a court-ordered foreclosure sale under Ind. Code § 32-28-14. The complaint cannot be filed in the first 90 days.
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