Arkansas Master Deed Declaration of Condominium
Description
How to fill out Master Deed Declaration Of Condominium?
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FAQ
A horizontal-property act is a law that governs the ownership and management of cooperatives and condominiums. It sets out the rights and responsibilities of owners, tenants, and management companies.
To create a homeowners' association or property owners' association, the master deed of the community along with the adopted bylaws must be submitted to the office of the clerk in the county where the property is located. This deed must be certified by a state licensed architect or engineer.
The Arkansas Horizontal Property Act oversees the creation, management, authority, and operation of horizontal property regimes, including homeowners associations, that record a declaration or master deed. By recording these documents, the horizontal property regime is choosing to be bound by the Act.
A POA is not limited to the type of building or property owner that it governs. Whereas a HOA is about a community of the same type of properties, a POA is usually a mix of property types, including single family residences and businesses.
In Arkansas, HOAs are regulated by the Arkansas Horizontal Property Act found in Title 18 Chapter 13 of the Arkansas Code. This act applies to all planned communities for residential, commercial, or industrial use. Otherwise, governing documents regulate HOAs.
Section 5-36-103 - [Effective 1/1/2024] Theft of property (a) A person commits theft of property if he or she knowingly: (1) Takes or exercises unauthorized control over or makes an unauthorized transfer of an interest in the property of another person with the purpose of depriving the owner of the property; or (2) ...
