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We live in a neighborhood that is a homeowners association and part of a country club community. Thus we pay homeowners dues, and several people who recently bought homes were told that they were NOT a part of this association and they would NOT have to pay dues, but after they moved in were sent a bill for dues. I believe this falls under some realty law fraud. My MAIN question is do we have a right to see where the money from our dues GOES? Because it sure isn't going into our roads, which have potholes that rival the Grand Canyon, and it's really tearing up people's cars (tires, alignment, etc). Some of us younger people who don't much about it want to know what rights we have without making too many waves yet.
Please help. Thanks.

2006-12-29 04:52:54 · 7 answers · asked by concretebrunette 4 in Business & Finance Renting & Real Estate

7 answers

If you are a member of the HOA, you should attend all meetings. You are legally entitled to a copy of the financial statements but may have to ask for them.

Whether or not the HOA is mandatory of voluntary will determine if owners must belong to it. If membership is mandatory, this would be spelled out in the master plat for the subdivision although it may not be mentioned on the individual deeds. Frequently the deed will make a thin reference to the master plat and any of its codicils and other times you have to review the master to be sure. Reviewing the deed and master plat for any CC&Rs is part of the due dilligence process in buying a home and a very good reason to have an attorney represent you at closing.

2006-12-29 06:29:22 · answer #1 · answered by Bostonian In MO 7 · 0 0

Go to the association meetings - observe first if you don't want to make waves and then start speaking out - and yes you should get a financial accounting each year. The closing papers on the purchase of the home should show the homeowners association assessment and the by-laws should have been included in the closing documents.

2006-12-29 04:58:40 · answer #2 · answered by justwondering 6 · 0 0

your homeowners association should have a board, and you may also have a management company that works with them on managing the community; they will have a set of by-laws that governs them, in the by laws it will state what the terms are for collecting dues and by what means you have to gain access to the information your looking for. Most of these associations are on the web now with the budget information listed there.
You may want to try to get involved with the association, you know the squeeky wheel gets the grease, go the the meetings and voice your wants, thats how ours works and we have been getting great results since we moved here...Good luck NK

2006-12-29 05:15:43 · answer #3 · answered by No K 1 · 0 0

If you pay dues you are a member of the association and have the right to attend the association meetings and view financial info on the association.

2006-12-29 04:57:01 · answer #4 · answered by Mike 4 · 0 0

hi, large question. HOA is charged based on the centers offered at the same time via the HOA. the elementary: a million. basic section legal duty insurance. 2. basic section maintenance. 3. basic section Landscaping. the common quantity for the elementary HOA is between 50 and 70 money in line with month. elective centers: a million. rubbish. 2. Water. 3. warmth. 4. Earthquake insurance. 5. Roof. 6. outdoors paint. 7. Swimming Pool. 8. club homestead / gymnasium / Racquet ball courtroom. to comprise each and all of us of those centers the HOA would desire to be everywhere between $4 hundred to $500 and upwards for any specific complexes. i'm hoping that facilitates. ultimate regards Disclosure: i'm a Realtor approved in California and with Century 21 El Camino.

2016-10-19 04:16:17 · answer #5 · answered by ? 4 · 0 0

Your association is required to provide every member with a a statement at the end of the year showing where the money was spent. If you never received one, contact them and request the a copy of the last one completed.

2006-12-29 05:38:45 · answer #6 · answered by smilin1 2 · 1 0

as a member of the homeowner association you are entitled to attend the meetings and request copies of the budget. you can do a search on your state governments website for more specifics.

2006-12-29 05:01:30 · answer #7 · answered by dwalkercpa 5 · 0 0

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