What is the Legal basis for creating a Property Owners Association?

Answer From a real estate owners point of view, the legal basis is the land-use documents filed in the local hall of records defining the land use as an association -- condominium, co-op or home owners. T... Read More »

Top Q&A For: What is the Legal basis for creating a Property...

What is the difference between a property owners association and a home owners association?

There really is no difference, except for the styling of the name. Both organizations operate through covenants and bylaws recorded against a group of properties with the goal of making said proper... Read More »

Should home owners association be on cash or accrual basis?

Depending on the nature of the association's business profile -- commonly, a non-profit corporation -- there may be guidelines that exist for that profile. Generally, best practices dictate that fi... Read More »

What are the legal disclosure obligations of a Home owners association to a seller member of that Homeowners association?

You may be referring to an inclusion in the purchase/sale agreement documentation packet which details the status of the unit and documents the status of certain business aspects of the association... Read More »

I would like to find out how I can have my property exempted from our local property owners association?

If you purchased your property subject to the by-laws and rules & regulations of a Homeowner's Association you cannot remove your property from the association. All the other owners have the right ... Read More »