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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.
Getty Images By Teresa Mears If you buy a condominium, townhouse or single-family home in a newer development, you're likely to become a member of a community association. About 20 percent of ...
And if your HOA’s bylaws are in violation of your Constitutional rights, speak up about it. If your board refuses to make changes, get a lawyer involved. Another way to protect yourself as an ...
Combines elements of a traditional rental agreement with an exclusive right of first refusal option for later purchase on the home. It is a shortened name for Lease with Option to Purchase Contract. The lease purchase agreement expounds upon what responsibilities the tenant/buyer and landlord/seller undertake during the course of the lease.
In business, an MoU is typically a legally non-binding agreement between two (or more) parties, outlining terms and details of a mutual understanding or agreement, noting each party's requirements and responsibilities—but without establishing a formal, legally enforceable contract (though an MoU is often a first step towards the development of a formal contract).
Often, the HOA passes this ever-rising cost on to the homeowners in the form of higher monthly fees or larger one-time fees called special assessments. This jump in homeownership costs can have a ...
Google Docs is an online word processor and part of the free, web-based Google Docs Editors suite offered by Google.Google Docs is accessible via a web browser as a web-based application and is also available as a mobile app on Android and iOS and as a desktop application on Google's ChromeOS.
Association management is a distinct field of management because of the unique environment of associations. Associations are unique in that the "owners" are dues-paying members. Members also govern their association through an elected board or other governing body, along with association committees, commissions, task forces, councils and other ...
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