Many community managers become frustrated and confused when an owner files for bankruptcy, which can have a negative effect in the association’s finances.
Martell & Ozim, P. A. can alleviate your community’s concerns by educating you throughout the bankruptcy process and placing your community in the best position available to minimize the impact of an owner’s bankruptcy.
With our Firm’s support, your community may benefit from filing a proof of claim to protect its interests and provide itself standing to file for relief of stay if an owner fails to pay post-petition assessments.
Upon the conclusion of a bankruptcy or upon obtaining relief of stay, a community association may resume pursuing its in rem foreclosure remedies against the property for unpaid pre-petition and post-petition assessments and/or its covenant enforcement proceedings, if the property remains in violation of the covenants and restrictions of your community.
With the proper counsel, a community association can ensure it is an adequately protected creditor in order to collect assessments through a Chapter 13 repayment plan—or to make sure it is considered a secured creditor for collections purposes.
About Martell & Ozim
Martell & Ozim, P.A. dedicates 100% of its practice to the representation of condominium and homeowners’ associations. We proudly assist and support community associations with all of their day-to-day legal needs.
213 S. Dillard Street, Ste 210
Winter Garden, FL 34787
37 N. Orange Avenue, Ste 500
Orlando, FL 32801
140 S. Beach Street, Ste 310
Daytona Beach, FL 32114
Contact Us Today
Office hours Monday through Friday from 9:00 a.m. to 5:00 p.m.
Pursuant to the Fair Debt Collections Practices Act you are advised that this law firm is deemed to be a debt collector attempting to collect a debt and any information obtained will be used for that purpose.