(8/28/14) Condo Lien Super-priority Trumps First Deed of Trust
In a stunning reversal of the holding of the D.C. Superior Court, the D.C. Court of Appeals held that the foreclosure of a condominium lien can extinguish the lien of a deed of trust. The case, which was decided August 28, 2014, is Chase Plaza Condominium Association, Inc. and Darcy, LLC v. JPMorgan Chase Bank, N.A., 13-CV-623+ (D.C. 2014) District of Columbia Court of Appeals.
The main issue in the case was whether the special 6-month priority given to condominium association dues under D.C. Code § 42-1903.13 (a)(2) resulted in a lien that, if foreclosed, would extinguish all inferior liens, including deeds of trusts and mortgages. The Superior Court had ruled that such liens were not extinguished but the Court of Appeals reversed this ruling and held that all subordinate liens were extinguished by the foreclosure. If JP Morgan does not challenge the Court of Appeals' decision, then the liens of all deeds of trust that are secured by condominium units are subject to being extinguished when the unit holder fails to pay any condominium dues.
If you would like to find out more about condo lien super-priority, please call us at 1-202-351-6100.
(5/24/11) The District of Columbia has recently promulgated new regulations relating to foreclosures in the District of Columbia. If you would like to find out more about these new regulations, please call us at 1-202-351-6100.
(4/1/11) The law firm of BuckmanLegal PLLC is offering a seminar on DC Condo Conversions. The seminar--on April 11--will include talks by Steven M. Buckman, Esquire of BuckmanLegal PLLC, a leading condominium conversion attorney, licensed DC Land Surveyor Dan Caywood of Maddox Engineers & Surveyors, Inc. and featured speaker Lauren Pair, Esquire, the Rental Conversion and Sale Administrator for the District of Columbia.
Please join us for hors d'oervs on Monday, April 11th, between 4:30 p.m. and 6:30 p.m. at DC Boathouse, located at 5441 MacArthur Blvd. NW, Washington, DC (at Cathedral Ave. NW).
Seating will be limited so please RSVP today by sending an email to Norman@BuckmanLegal.com or by calling Ms. Norman at 202-351-6100 x. 150.
of January 1, 2011, the District of Columbia will institute filed title insurance
rates. It will be
illegal to give anyone, including a borrower or purchaser, a title insurance
rebate or reduction in the filed rates unless so specified by the type of rate,
e.g., a reissue rate. In addition, all title and settlement companies will need to be
licensed by the District of Columbia in order to sell title insurance and handle closings.
(4/7/10) Steven Buckman of BuckmanLegal PLLC will appear live today (April 7) at 12 noon on Let's Talk Live! Let's Talk Live is the only live and local talk show in DC hosted by award winning journalists Natasha Barrett and Doug McKelway on NewsChannel 8. Mr. Buckman will discuss the tax credits still available to first time homebuyers and report on his investigations into possible extensions of certain tax credits for some homebuyers in the metropolitan area.
(2/4/10) Steven Buckman, President of Palisades Title Company, will serve as a presenter on February 16, 2010, 2PM to 3:30PM, at the TSS Webinar: Bridging the RESPA Gap. Register on the web at octoberstore.com or by calling 1-877-662-8623. Who should attend? Realtors, title agents, lenders, mortgage brokers, and attorneys are all encouraged to participate. Learn what constitutes best practices under the new rules. Save $10 when you register for this Webinar using Coupon Code: 021610 courtesy of TSS Software Corporation.