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.
Mississippi Rules and Regulations of an Association of Owners of a Condominium Association
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If it is not, a vote by HOA members of at least ? in favor of dissolution is required for authorization. If dissolution is authorized by HOA members, the HOA must distribute its assets and debts. Once distributed, the HOA has to file an Articles of Dissolution with the Mississippi Secretary of State.
Because Mississippi is not a super lien state, a bank foreclosure will take priority over a community association's lien and does not require the lender to provide any compensation to the association for unpaid assessments.
Homeowners' associations in Mississippi are not governed or regulated by any government act. The Mississippi Condominium Law regulates condominium management but those regulations do not apply to HOAs. The Mississippi Nonprofit Corporation Act applies to any incorporated common interest community.
Your declaration does specify that ?such lease and the rights of any tenant thereunder are hereby made expressly subject to the power of the Association to prescribe reasonable rules and regulations relating to the lease and rental of units.? Therefore, the Association can prescribe reasonable rules and regulations ...
Homeowners' associations in Mississippi are not governed or regulated by any government act. The Mississippi Condominium Law regulates condominium management but those regulations do not apply to HOAs. The Mississippi Nonprofit Corporation Act applies to any incorporated common interest community.
Foreclosure After a lien is placed on your home, your HOA can choose to foreclose on that lien. It doesn't even matter if there is a mortgage on the home ? as long as state laws and the CC&Rs allow it, you may face foreclosure. There are two ways an HOA can foreclose on a lien: Judicial foreclosure.