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Will v. Mill Condominium Owners’ Association
Supreme Court of Vermont
848 A.2d 336 (2004)
Anne Will (plaintiff) owned a condominium at The Mill Condominiums. Will neglected to pay her condominium dues, and the Mill Condominium Owners’ Association (the association) (defendant) commenced foreclosure proceedings. Prior to the foreclosure sale, the association informed Allen and Linda Seiple (defendants) the minimum bid would be $3,510.10. The Seiples, who were the only bidders at the sale, purchased the condominium for that amount. The association mistakenly believed that the condominium was subject to a $45,000 mortgage. That mortgage had in fact been discharged. Will brought suit seeking a declaratory judgment setting aside the foreclosure sale for lack of commercial reasonableness. The trial court determined the fair market value of the condominium was approximately $70,000. The defendants moved for summary judgment, and the trial court granted the motion. Will appealed.
Rule of Law
Holding and Reasoning (Amestoy, C.J.)
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