Which statement about acceleration is true?

• A. Acceleration is the collection of all assessments due through the end of the fiscal year.
• B. Acceleration is the collection of all assessments due on a monthly basis.
• C. Acceleration refers to a late charge.
• D. Acceleration means forgiving past due amounts.

Answer: (A)

Acceleration means the entire amount owed becomes due immediately because of a delinquency. In a community association, this often means the association can require all assessments that would be payable through the end of the current fiscal year to be paid now, rather than just the monthly or past-due portion. It’s a remedy used after delinquency to recover the full balance more quickly, not a late fee or a forgiveness of debt. So the statement describing collecting all assessments due through the end of the fiscal year reflects how acceleration is applied in this context.