A condominium association is an association of unit owners in a condominium building. The association elects a board of directors, which handles the maintenance and repair of common areas, disputes among unit owners, and enforcement of rules and regulations, and condominium fees. The rules and regulations are normally adopted by the board of directors of the association.
Georgia Rules and Regulations of an Association of Owners of a Condominium Association
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What is the Georgia Condominium Act? The Georgia Condominium Act (GCA) regulates all condominiums that were created after July 1, 1975 and any Georgia Apartment Ownership Act (AOA) that submitted to the GCA.
Georgia homeowners associations exist as non-profit corporations. If dissolution is desired alongside covenant abolishment, the Georgia Non-Profit Corporation Code regulates dissolution through membership votes.
If insurance to cover property damage caused by water has not been obtained by the condominium association, or if the water damage does not constitute a ?covered claim? by the insurance company, absent negligence and/or an intentional act, each party is responsible to repair and replace the Unit and/or the Common ...
Section 83(1) of the Act requires landlords to notify the condo corporation of the rental and provide a copy of the lease within 10 days of signing.
A condominium shall come into existence upon the recordation of the declaration pursuant to this article and of the plats and plans required by Code Section 44-3-83. The declaration shall be duly executed by or on behalf of all of the owners and lessees of the submitted property. Ga.
Sections 85 and 86 of the Condominium Act, 1998 (the ?Act?) set out a condominium corporation's power and authority to have, register and enforce a lien against a unit owner's property on account of non payment of common expense contributions without any form of judicial process.
In general, the POA was designed to mirror the Georgia Condominium Act (GCA) in terms of offering a ?set? of advantages to HOA communities. In essence, it ?upgrades? the community and offers a new bundle of rights including the following benefits: Ability to charge late fees and higher interest on past due amounts.
Board members can be held liable if they do not perform their fiduciary duties to the association. Broadly, the law describes three aspects to these duties: the duty of care in enforcing the association's Covenants, Conditions, and Restrictions; the duty to use sound business judgment; and the duty of good faith.