ironman88

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  • in reply to: trying to start an HOA #376304
    ironman88
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    we do have a few common spaces (like a fountain and a small basketball court) which is why we want to start an HOA. about these governing documents, how do we make them? is there like a standard copy?

    in reply to: How to Disband Your HOA? #368981
    ironman88
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    HOA’s are terrible organizations that just want to bleed you dry of your money. You are right to disband yours.

    My advice is to just follow the dissolution steps outlined in your CCR’s. A lot of HOA’s typically require 100% approval from the homeowners, but this is not always the case. You might also need approval from your mortgage provider since your agreement was probly made when the HOA still existed. You would need to change your contract if the HOA were to dissolve.

    You also need to dispose of your common areas. Your local taxing authority may be able to help you with this. If they assume maintenance for them, it would make your property part of a special taxing district to cover the cost. If you have pools and tennis courts, maybe someone is willing to buy them from the HOA and open them for public use.

    If you have any deed restrictions, you would want to terminate those as well. That way, your neighbors can’t take legal action against you if you go against them. Finally, after paying for all the related dissolution expenses, you will need to distribute association funds.

    This is merely from experience and an understanding of how HOA’s generally work. I’m not an attorney or anything. Just thought that needed to be said.

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