In some states, such as California, HOA bylaws are considered public record and must be made available upon request.
Disclosure Requirements Disclosure is mandated by law, often through public records and real property records. Before purchasing a home, buyers must receive a set of documents detailing the HOA's health, such as its covenants, conditions, restrictions, bylaws, rules, and financial statements.
An HOA's governing documents are usually in the form of a Declaration of Covenants, Conditions, and Restrictions (CC&Rs) and bylaws. The CC&Rs explain the rules of the HOA community, while the bylaws cover how the HOA operates.
The absence of an HOA board can result in significant risks, including financial mismanagement, where bills go unpaid and dues are uncollected, leading to financial instability. Residents and city officials can also bring about legal actions against the HOA, resulting in expensive court actions.
The local law supersedes the rules and regulations of the HOA, meaning that HOAs must ensure they are operating under the law.
Disclosure Requirements Disclosure is mandated by law, often through public records and real property records. Before purchasing a home, buyers must receive a set of documents detailing the HOA's health, such as its covenants, conditions, restrictions, bylaws, rules, and financial statements.
There must be at least three people on the Board of Directors. If an association's governing documents do not state how many people must serve on the Board of Directors, Texas law says that the number will be equal to the initial number of directors listed in the Articles of Incorporation.
In some cases, an HOA can foreclose on property when the owner has fallen behind on paying fees. The law and the association's governing documents will set out the proper procedure. This includes any required notices to the owner.
House Bill 614 guarantees your right to a hearing before the HOA board to contest the violation or the proposed fine. This ensures a fair and transparent process where you can voice your concerns and advocate for your interests.
Enforcing Community Rules and Regulations In addition, HOAs have the authority to enforce their rules and regulations, such as those pertaining to architectural guidelines, landscaping, and pet restrictions.