Bill > SB580

This bill increases the minimum amount of unpaid assessments required for a homeowners' association or condominium association to initiate foreclosure proceedings on a property lien. Previously, an association could start foreclosure if a property owner owed at least $2,000 in assessments, late fees, and interest. This bill raises that threshold to $20,000, meaning associations must wait until a homeowner is significantly delinquent before they can pursue foreclosure under the "Georgia Condominium Act" and the "Georgia Property Owners' Association Act," which govern these types of communities.

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https://www.legis.ga.gov/legislation/73623