Owners’ association liens are special security rights available to the owners’ association or to individual owners against co-owners who are in default of certain payment obligations. GIBEL ZIRM Attorneys at Law will assist you in enforcing your claims.
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Which Claims Can Be Secured by an Owners’ Association Lien?
An owners’ association lien serves to secure claims of the owners’ association, such as outstanding advance payments for operating costs or special contributions. In addition, individual owners who have made advance payments on behalf of a defaulting co-owner may also be entitled to assert such a lien.
A Legal Advantage Through Early Protection
When used correctly, owners’ association liens offer a clear advantage in the enforcement of outstanding claims against a condominium owner. In the event of a forced sale of the condominium unit, claims secured by the lien are satisfied before all other creditors registered in the land register, in particular banks. This is especially advantageous in the event of the owner’s insolvency. This priority applies even where other creditors registered their claims in the land register at an earlier stage.
However, for the claim actually to benefit from priority in enforcement proceedings, various legal requirements must be met and deadlines observed. In particular, it is essential that the claim is asserted in court and that the application for registration in the land register is filed within six months of the claim arising.
Enforcing Your Rights by Our Team of Experts
With the owners’ association lien, the Austrian Condominium Act provides an effective instrument for protecting the owners’ association or individual owners against payment defaults by co-owners at an early stage and thus minimizing economic risk.
Our lawyers regularly represent owners’ associations and property management companies in the effective enforcement of their claims. We handle the entire enforcement process, from reviewing your claim, filing the action in due time, and coordinating with the property management company to registering the lien in the land register. Where necessary, we also represent you in liquidation and insolvency proceedings to ensure that the legitimate claims of the owners’ association are preserved.
