On November 15, 2018 the ACTHA membership had the privilege of hearing Kathryn Formeller speak on the topic of DOING WHAT'S RIGHT FOR YOUR ASSOCIATION: WHEN OWNERS DON’T PAY ASSESSMENTS, collection of Delinquent Assessments and Foreclosures at the Tahoe Village Condominium Association in Wheeling, Illinois. A gathering of Association members attended the seminar during an evening of inclement weather. Kathy Formeller is partner at Tressler LLP.
Kathryn regularly represents condominium associations as creditors in both Chapter 7 and Chapter 13 bankruptcy proceedings seeking to modify the automatic stay so that they can pursue their state court remedies. Kat is the lead attorney for the Condominium & Common Interest Community Association Law practice. Her practice includes representing condominium associations and common interest community associations in a variety of areas, including rule enforcement, interpretation of governing documents, review and negotiation of contracts, and collection of assessments. She also provides advice to clients on their rights and responsibilities under the Condominium Property Act, Forcible Entry and Detainer Act, General Not for Profit Corporation Act and the Common Interest Community Association Act. Furthermore, Kat practices in the area of commercial litigation nationwide and counsels clients with respect to a wide variety of business disputes.
In her presentation she explained the need for community association assessments, foreclosures and their threat to the collection of assessments. She focused on sections of the Condo Act 9 (g) 4 and 9 (g) 5 that provide condo associations with an avenue to collect delinquent assessments and attorney fees in foreclosure cases. She explained how to proceed in the collection of delinquent assessments using the Condo Act as your guide.
She explained the six month rule and the various case laws which shaped the collection and foreclosure process. Seminar attendees were given the opportunity to ask questions pertaining to their association’s challenges and problems.
The ACTHA board appreciates the expertise of Kathryn Formeller and is grateful for her participation as a presenter at the Seminar monthly series. Our members and guests gained much knowledge on the featured topic.