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HOA foreclosures differ somewhat from those initiated by banks or mortgage lenders. Scams sometimes follow foreclosure filings, and a lawyer may be able to help you navigate the process.
Preventing property fraud is critical because once your property has been sold to a third party, you will no longer be the legal owner and it can take a long time and a lot of money to go to court ...
While your property itself could be fine, you may be living among neighbors you don’t care for, with higher costs, like property taxes and even higher homeowners association (HOA) fees. Yes, you ...
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]
Maryland House Bill 107, also known as HB107, is a Maryland state law passed in 2022 that mandates that condominiums, housing associations, cooperatives, and homeowner associations complete a reserve study by October 1, 2023. [1]
In property law, alienation is the voluntary act of an owner of some property to convey or transfer the property to another. [1] Alienability is the quality of being alienable, i.e., the capacity for a piece of property or a property right to be sold or otherwise transferred from one party to another.
When you buy a property in an HOA-governed community, you are obliged to become a member of the association and abide by its rules and regulations, which you cannot legally decline.
Before the closing happens, the settlement agency must ensure that all the money that the lender and buyer expect to send into escrow matches the total amount expected by parties that need to be paid, such as the seller and real estate agents. This matching process means that accounting information is gathered and the order is “balanced.” [8]