Residents of a new development are asking about developers responsibility in turning over the HOA to the property owners in the state of Alabama. Is there a standard or a requirement govern by state law. Ie: 2/3 sold , 3/4 sold etc
If your development is a condominium, then the period of declarant control terminates 60 days after the conveyance of 75% of the units. It is also wise to check your governing documents to know when the developers should turn over the HOA to the homeowners, both for condos and homeowners associations.
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