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Albert Moore, Attorney at Law
The Renaissance Financial Center
130 S. Indian River Blvd. Suite 202
Fort Pierce FL 34950
United States
(772) 919-2542

Usually, it should be a last resort. There are a couple of reasons why associations should foreclose. The first reason is that several owners within a particular development or a specific association don't pay their dues. When budget time comes, and expenses are due and possible reserves that need to be funded, the other members will have to make up. So, the association has a fiduciary duty to make sure that people pay their dues and are not delinquent. Sometimes when I represent an association, board members find themselves in a position where they do not want to pay for the foreclosure. I'll tell them that it may be a good business decision on your part.

However, you have to understand that members talk to one another, so if they are thumbing their nose at you, it may become contagious to other members, and later down the road, you will have trouble paying bills. When I represent associations, I must take many factors into account. Another one is whether there are other encumbrances on the property, namely a mortgage. Suppose there is a mortgage on the property. It doesn't mean that you don't necessarily foreclose. However, that's a factor to consider, and that can be a whole talk in and of itself.
So, there are reasons to foreclose as well as ones not to. It just depends on the economic situation that the association is in, and it depends on the particular property. The best thing is to have consulate practices in that area that can evaluate and analyze the association so the board can make the best decision.

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