Condominium Ownership Act — Lien for Unpaid Common Expenses
Establishes the association's lien on units for unpaid common expenses, damages, and penalties. A statement of lien must be filed within 2 years after the assessment becomes due. The lien is prior to all other liens except general and special tax liens, and sums unpaid on a first mortgage recorded prior to the assessment. No super-priority provision — the lien is fully subordinate to first mortgages. Foreclosure must be judicial (same manner as mortgage foreclosure). 10-day notice to owner required before initiating foreclosure. 12-month redemption period applies.
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| Ref | Requirement |
|---|---|
| May be foreclosed in the same manner as a mortgage on real property | |
| Must mail a written notice to a condo owner ten days before starting a foreclosure | |
| Establishes the association's lien on units for unpaid common expenses, damages, and penalties. | |
| (1)(a) | If a statement of lien is filed within 2 years after the date the assessment becomes due |
| Ref | Requirement |
|---|---|
| No super-priority provision — the lien is fully subordinate to first mortgages. | |
| A statement of lien must be filed within 2 years after the assessment becomes due. | |
| The lien is prior to all other liens except general and special tax liens, and sums unpaid on a first mortgage recorded prior to the assessment. |
- Wis. Stat. §703.02 — Wisconsin Condominium Ownership Act — Definitions
- Wis. Stat. §703.15 — Condominium Ownership Act — Association of Unit Owners
- Wis. Stat. §703.16 — Condominium Ownership Act — Common Expenses and Common Surpluses
- Wis. Stat. §703.161 — Condominium Ownership Act — Annual Budget
- Wis. Stat. §703.163 — Condominium Ownership Act — Statutory Reserve Account
- Wis. Stat. §703.17 — Condominium Ownership Act — Insurance
- Wis. Stat. §703.20 — Condominium Ownership Act — Association Records; Financial Audits
- Wis. Stat. §703.33 — Condominium Ownership Act — Disclosure Requirements
- Wis. Stat. §703.335 — Condominium Ownership Act — Payoff Statement
- Wis. Stat. §703.365 — Condominium Ownership Act — Small Condominiums