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A homeowner association (or homeowners' association [HOA], sometimes referred to as a property owners' association [POA], common interest development [CID], or homeowner community) is a private, legally-incorporated organization that governs a housing community, collects dues, and sets rules for its residents. [1]
The Uniform Common Interest Ownership Act was created to provide a model set of laws to govern condominium, cooperative, homeowner association and planned unit development communities in the United States. Variations of the act have been adopted in Colorado, Washington (state), and some other states.
During a Special City Council Meeting [3] on May 19, 2005, the Shannon Hills City Council passed two ordinances [4] [5] to approve petitions [6] [7] presented by the owners of Hometex, LLC (Doug Loftin, Thomas Cunningham, and Travis Bull) to form Improvement Districts No. 53 and 54 on Emerald Mountain.
Beneficial owner is subject to a state's statutory laws regulating interest or title transfer. [2] This often relates where the legal title owner has implied trustee duties to the beneficial owner. [clarification needed] A common example of a beneficial owner is the real or true owner of funds held by a nominee bank.
Black's Law Dictionary defines beneficial interest as "Profit, benefit or advantage resulting from a contract, or the ownership of an estate as distinct from the legal ownership or control." [3] [4] Examples of beneficial interests in mining claims include unrecorded deeds and agreements to share profits, but not mortgages and other liens. [5]
The HOA governs the CID based upon the incorporated covenants, conditions, and restrictions (CC&Rs) which were recorded when the property was subdivided. [citation needed] The CC&Rs will outline the financial budgeting guideline for the HOA in determining the dollar amount in maintenance fees for assessing the owners. In a wholly owned CID ...
This easement can be used for wireless communications towers, cable lines, and other communications services. This is a private easement and the rights granted by the property owner are for the specific use of communications. Ingress/egress easement. This easement can be used for entering and exiting a property through or over the easement area.
A registered agent is a designated person or entity authorized to receive legal and official documents on behalf of a company or LLC, and can be referred to as "Resident Agent", "Statutory Agent", commercial or noncommercial clerk, [5] [6] or by the Federal Motor Carrier Safety Administration (FMCSA), a "process agent". [7]