Dissolving HOAs in New Hampshire

Question:

Hello,

Thank you for your assistance. What are the requirements that an HOA board must meet?

This is the situation I’m trying to understand. An HOA was set up to take care of the roads 35 years ago. About 10 years later the town took over the maintenance of the roads with the exception of 2 cul-du-sacs which the board members live on. The board sends out bill for the fee but never provides any documentation as to what they do with the money.

I have another property that is part of an HOA and they send out a budget, actuals and have a meeting once a year.

Are there any requirements that a board of an HOA must meet?

If the reason for creating the HOA is no longer needed, can it be resolved?

Thank you,

– Denise

Answer:

Hi Denise,

According to the New Hampshire Unit Ownership of Real Property Act, homeowners can request to examine the financial records of the association, including receipts and expenditures. Section 479-A:19 states the following:

“The manager or board of directors, as the case may be, shall keep detailed, accurate records in chronological order of the receipts and expenditures affecting the common areas and facilities, specifying and itemizing the maintenance and repair expenses of the common areas and facilities and any other expenses incurred. Such records and the vouchers authorizing the payments shall be available for examination by the unit owners at convenient hours of weekdays.”

It is possible to dissolve an HOA. If your HOA is organized as a corporation, you can dissolve it by following the same procedure as dissolving a corporation. This typically involves filing Articles of Dissolution with the New Hampshire Department of State and requesting a Certificate of Dissolution from the Department of Revenue Administration.

Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.

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