DCA Penalty from 9+years ago- $7k
Hi, would be super appreciative if someone has any advice on an issue:
The HOA (Self-manged) of our 3 unit condo building in Jersey City just received 3 penalties totaling $7k for violations on the 5 year DCA condo inspection dating from 1998/2005/2009. THINK this is mainly non-payment penalties. All current owners purchased in 2016. The HOA is a non-profit corporation equally owned by the 3 condo owners. Membership of the HOA automatically transfers when there is a new buyer.
Could the responsibility for liability somehow remain with the previous owners or the debt be too old to collect?
THANKS in advance for any help.