Tagged : Real Estate Homeowner Associations

Homeowner associations are essentially corporations established by developers of real estate. The association works initially to market and sell the homes in the subdivision. The developer is granted the right to vote about association policies while also allowing him or her to transfer the ownership of the association to individual homeowners upon the sale of a certain amount of lots. When a home within a homeowner association is sold, the home buyer is normally not allowed to reject the homeowner association membership. There is typically a board of directors established to run the association, collect dues, and hold meetings. Many of them retain the services of a property management company to carry out those duties.

Homeowner association regulation…