Question:
New Homes
builder of homes says he will pay himself out of HOA dues each month till a president is picked is this legal
If no one steps up to takeover there are only 10 homes a lot of home owners do not want the HOA can Hoa be dissolved
– Shedlock
Answer:
Hi Shedlock,
Maryland law currently does not address this. However, it is common practice not to pay board members, including the HOA president, for their service on the HOA board. Once 75% of the homes in the development are sold, the developer must turn over the HOA to the homeowners. At this point, the homeowners can elect their own board. Check your HOA’s governing documents, though, to see if they allow for an earlier transition depending on the requirements.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
