Question:
Hello,
I am a board member of a small townhouse community HOA in Baltimore County, MD. We are curious to find out if it is mandatory/required that we keep our HOA going or if this is something that we can dissolve? If we can dissolve it, who would then maintain our common areas?
– Mark
Answer:
Hi Mark,
An HOA may choose to dissolve if members approve it. Your governing documents may contain specific language detailing the requirements and procedures for dissolving your HOA. Additionally, you will likely need to dissolve the association through the Secretary of State if it was initially incorporated
Someone must take over the HOA’s assets, though. The titles of such assets will either transfer to another legal entity or divided among the homeowners. An investor may be interested in buying the properties and maintaining them. It’s best to seek the help of a lawyer for further guidance.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
