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27 Wake Forest L. Rev. 353 (1992)
Meaner Lienor Community Associations: The "Super Priority" Lien and Related Reforms under the Uniform Common Interest Ownership Act

handle is hein.journals/wflr27 and id is 363 raw text is: MEANER LIENOR COMMUNITY ASSOCIATIONS: THE SUPER PRIORITY LIEN AND RELATED REFORMS UNDER THE UNIFORM COMMON INTEREST OWNERSHIP ACT* James L. Winokur** TABLE OF CONTENTS INTRODUCTION ..................................... 354 I. ASSESSMENT DELINQUENCIES AND CIC FINANCIAL WEAKNESS: THE NEED FOR REMEDIAL LEGISLATION ....................................... 356 II. UCIOA'S RESPONSE: TOUGHENING ASSESSMENT COLLECTION REMEDIES FOR COMMUNITY AS- SOCIATION S ......................................... 363 A. Recovery of Collection Costs ....................... 363 B. Association Lien with Split Priority ................. 363 1. Super priority versus first mortgages ............. 366 2. Limits on applicability of UCIOA super priority for assessment liens ............................ 369 3. Priority versus mechanics' liens ................. 374 C. Foreclosure and Redemption Options ................ 376 III. STREAMLINING INTERNAL ASSOCIATION FINAN- CIAL MANAGEMENT ................................ 385 A. Recording the Assessment Lien ..................... 385 B. Assessment Status Inquiries ........................ 387 C. Budgeting ........................................ 389 IV. PROPHETS OF DOOM: FEARS OF THE SUPER PRI- ORITY LIEN ........................................ 389 A. Marketability of CIC Mortgages on Secondary Market 390 B. Escrows of Assessments ............................ 391 C. Title Insurance Coverage ........................... 392 CON CLUSION ........................................ 394 * Copyright 1992 by James L. Winokur. ** Professor of Law, University of Denver College of Law, LL.B., A.B., University of Pennsylvania. Gurdon Buck, David Kirch, Jim Strichartz, and Dale Whitman were particu- larly helpful with comments on earlier drafts of this article. This research also benefitted from the generous comments of Mike Clowdus, Wayne Hyatt, Lynn Jordan, Jerry Orten, and Gary Tobey. Valuable research assistance was provided by Randy Evans, Blake Thomp- son, and Florian Kogelnick.

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