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381.9193 Lien for assessments.
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(2)
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The association shall have a lien on a unit for any assessment levied against that
unit or fines imposed against its unit owner from the time the assessment or fine
becomes due and, if the assessment is payable in installments, the lien shall be for
the full amount of the assessment at the time the first installment becomes due. The
association's lien may be foreclosed in like manner as a mortgage on real estate.
Unless the declaration otherwise provides, fees, charges, late charges, reasonable
collection costs, attorney fees, fines, and interest charged pursuant to KRS
381.9167(1)(j) to (l), shall be secured by the lien and enforceable as assessments
under this section.
A lien under this section shall take priority over all other liens and encumbrances on
a unit, except:
(a) Liens and encumbrances recorded before the recordation of the declaration;
(b) A mortgage on the unit recorded before the date on which the assessment
sought to be enforced became delinquent; and
(c) Liens for real estate taxes and other governmental assessments or charges
against the unit.
Unless the declaration otherwise provides, if two (2) or more associations have liens
for assessments created at any time on the same real estate, those liens shall have
equal priority.
Recording of the declaration constitutes record notice and perfection of the lien. No
further recordation of any claim of lien for assessment under this section shall be
required.
A lien for unpaid assessments shall be extinguished unless proceedings to enforce
the lien are instituted within five (5) years after the full amount of the assessments
becomes due.
Nothing in this section shall be construed to prohibit actions or suits to recover
sums for which subsection (1) of this section creates a lien or to prohibit an
association from taking a deed in lieu of foreclosure.
A judgment or decree in any action brought under this section shall include costs
and reasonable attorney's fees for the prevailing party.
The association shall, upon written request, provide a unit owner a recordable
statement setting forth the amount of unpaid assessments against his or her unit.
The statement shall be delivered within ten (10) business days after receipt of the
request and shall be binding on the association, the executive board, and every unit
owner.
Effective: January 1, 2011
History: Created 2010 Ky. Acts ch. 97, sec. 47, effective January 1, 2011.
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