Beaumont Tashjian understands that assessment income is the lifeblood of community associations. We provide full-service, attorney-supervised assessment collection services, focused on preserving this lifeblood through the most effective method of collection—judicial foreclosure. We are proud of our track record in collecting hundreds of thousands of dollars of delinquent assessments, late fees, interest and collection costs, including attorney’s fees, for our clients. Unlike any other method of collecting assessments, judicial foreclosure provides our clients with a money judgment against the owner in addition to a court order allowing the association to foreclose. The security and insurance that accompany the judicial foreclosure process, such as a lis pendens, abstract of judgment and a court-approved process, are unique, invaluable and minimize the legal risk to the association and its board. Our judicial foreclosure service is enhanced by a unique software system we have developed that enables our clients to see, in real time, the status of each account in the collection process to ensure boards obtain timely and updated information. Beaumont Tashjian has identified, streamlined and implemented one of the most successful means of collection: judicial foreclosure. After the pre-lien letter and recording of the assessment lien, this process is initiated by filing a lawsuit in the Superior Court and then personally serving the delinquent owner with a copy of the lawsuit. In most instances, this step by itself is enough to resolve the case at an early stage. Judicial foreclosure offers powerful benefits that are not available through any other method of collection, whether small claims court or non-judicial foreclosure, such as: - The filing and service of the lawsuit alone often causes the delinquent owner to pay immediately.
- Judicial foreclosure gives associations two options for collecting: foreclosure of the assessment lien; or levying personal assets such as bank accounts, wages and vehicles through a money judgment.
- Associations and their boards are afforded legal protection through a court-approved judgment. A judge’s ruling in favor of the association and against the owner cannot be used against the association or its board or management.
- Associations may obtain additional security through the recording of an encumbrance against the property (lis pendens) and against the owner (abstract of judgment). A lis pendens ensures that a delinquent owner cannot transfer the property without paying the association, and an abstract of judgment prevents the owner from obtaining a loan or credit or, at times, from taking employment until the judgment is satisfied.
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