My question involves a condominium located in the State of: Florida
The bank foreclosed the developer of our development and now owns 10 or 24 completed units and owes six months back and three months forward HOA fees. . Our management company is trying to help the owners get the HOA up and running since it was never officially turned over to us. The bank is threatening to force the HOA into receivership, which would impose a special assessment on each owner. I am wondering if the bank is using this tactic to stall things and hopefully sell and get out before they have to pay all of their HOA fees and figure the HOA will not have enough money to hire a lawyer to force them to pay.