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GA HB1123
Bill
Status
Introduced
3/5/2020
Primary Sponsor
Todd Jones
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AI Summary
- Amends Georgia Title 44 (Property) to redefine the costs that may be included in a condominium or lot owner's personal obligation for unpaid assessments, specifying reasonable attorney's fees actually incurred, attorney collection costs, court costs, and costs of a completed judicial foreclosure
- Removes the prior provision allowing associations to collect the fair rental value of a condominium unit or lot from the time a judicial action is initiated until the property is sold at foreclosure or the judgment is satisfied
- Eliminates previously authorized charges for "expenses of sale" and "expenses required for the protection and preservation of the unit/lot" from the list of collectible costs under assessment liens
- Applies parallel changes across three Code sections: 44-3-109 (condominiums), 44-3-232 (property owners' association lots), and 44-5-60 (covenants running with land)
- Retains existing provisions allowing late/delinquency charges up to the greater of $10.00 or 10% of the unpaid assessment and interest up to 10% per annum on delinquent amounts
Legislative Description
Property; owner's obligation for the payment of assessments shall include reasonable attorney's fees actually incurred, the collection costs of an attorney, court costs, and, in certain cases, the costs of a completed judicial foreclosure; provide
Last Action
House Second Readers
3/10/2020
Full Bill Text
No bill text available