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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.
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 ...
Under Davis–Stirling, a developer of a common interest development is able to create a homeowner association (HOA) to govern the development. As part of creating the HOA, the developer records a document known as the Declaration of Covenants, Conditions, and Restrictions against the units or parcels within the HOA with the county recorder.
A subdivision plat approved by a local planning commission, once recorded in a registry of deeds, is generally deemed to have created the parcels of land identified on the plat itself. The problem of testamentary division of property was identified by the SCPEA in the footnote to the definition of subdivision, but not fully clarified by it.
Another subdivision, the Consumer Protection Division, also favored the legislation. [30] Some homeowners and condo owners favored the law, stating that it would lead to "appreciation of Homeowner properties" [31] or that state-wide mandate for reserve studies would push governing boards to adequately plan "for short term or long-term projects ...
“What they typically want they are generally going to get, politically,” a former lawmaker said.
If you're one of the more than 60 million Americans -- about 1 in 5 U.S. residents -- who live in a homeowners association, condominium community, cooperative or other planned community, you might ...
A condominium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners.