Seller Rodriguez receives a resale certificate from her Marietta condo association that shows $800 in unpaid assessments from the previous owner that were never collected. The current buyer is concerned about potential liability. How should the listing agent advise Rodriguez under Georgia law?
Correct Answer
C) Unpaid assessments typically run with the property but may have collection limitations
Unpaid assessments typically run with the property as liens but may have statutory collection limitations and should be addressed in the transaction. A is incorrect as current owners aren't automatically personally liable for prior owner debts. B is incorrect as liability isn't automatic and can be negotiated. D is incorrect as there's no automatic forgiveness period.
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Previous Question
Under the Georgia Condominium Act (O.C.G.A. § 44-3-111), which of the following items is NOT required to be included in the resale certificate provided to a prospective buyer?
Next Question
Agent Foster is working with first-time condo buyers in Decatur. The association documents include a right of first refusal clause. How should Foster explain this provision to her buyers?