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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.
In one example, newer infill neighborhoods built decades after the original, surrounding HOA-less neighborhood may have its own HOA but also be within the boundaries of a NA. In the United Kingdom, it is known as a residents' association (RA). RAs are often involved in local politics, contesting seats at local and county elections.
The common ground and lakes within our community were platted to the Water Management District. The HOA uses the land that was platted to the Water Management District for a few social events each ...
Home rule in the United States relates to the authority of a constituent part of a U.S. state to exercise powers of governance; i.e.: whether such powers must be specifically delegated to it by the state (typically by legislative action) or are generally implicitly allowed unless specifically denied by state-level action.
The Board has been charging and collecting a fee of around $900 from all new owners when they buy; the fee is categorized as a 'capital contribution'
A reserve study is a long-term capital budget planning tool which identifies the current status of the reserve fund and a stable and equitable funding plan to offset ongoing deterioration, resulting in sufficient funds when those anticipated major common area expenditures actually occur.
This committee aimed for broad representation and included legal experts from various organizations, such as the American Bar Association (ABA) and its Section of Real Property, Probate and Trust Law, the American College of Trust and Estate Counsel (ACTEC), the American Bankers Association, and state bar associations from California and Colorado.
Legal compliance is the process or procedure to ensure that an organization follows relevant laws, regulations and business rules. [5] The definition of legal compliance, especially in the context of corporate legal departments, has recently been expanded to include understanding and adhering to ethical codes within entire professions, as well.
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