Virginia  |  Landlord & Tenant Law

Legal Question

Asked on: 3/20/13, 3:34 pm

I am thinking of purchasing a condo. The HOA docs have a list of "Assessments and Mandatory fees you are responsible for". Within that list under it states "Other entity or facility: Line of Credit with BB&T: Balance $183,718.28."

Why would this be listed as something I am responsible for and if the HOA ever went bankrupt, would I along with other tenants, be responsible for this debt?

Thank you

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