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New Hampshire Articles of Organization of Homeowners Association

New Hampshire Articles of Organization of Homeowners Association

Name: New Hampshire Articles of Organization of Homeowners Association
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.77 (268 reviews)

Category:

New Hampshire Court Samples - Corporations - Articles

State:

New Hampshire

Control #:

NH-BH-098

Format:

Instant download

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Description

Articles of Organization of Homeowners Association

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FAQ

Examine the landscaping and outdoor maintenance. Check out the condition of amenities and common indoor space. Ask to see the association's budget and reserve study. Contact the community's property management company.

HOAs have two forms to choose from 1120 and 1120-H. Form 1120 is used by C corporations while 1120-H is a tax form specifically designed for qualifying HOAs.

A homeowners association (HOA) is a legal entity that governs a community of homes, including subdivisions, condominiums, townhomes, or planned community. HOAs operate within state statutes to enforce regulations and collect assessments from homeowners, while also taking care of maintenance repairs of common areas.

What HOAs Can Legally Do. Covenants, conditions, and restrictions fall under the scope of the HOA bylaws or articles. They are (in some cases) forged with the power to fine, place liens against mortgages, and even foreclose on a homeowner's property.

For federal tax purposes, homeowners' associations are considered corporations, regardless of whether it was created as a non-profit. Therefore, the association must file taxes as a corporation. The HOA is responsible for filing a tax return every year that it is in operation.

Some states, such as Florida and California, have a large body of HOA law. Other states, such as Massachusetts, have virtually no HOA law. Homeowners associations are commonly found in residential developments since the passage of the DavisStirling Common Interest Development Act in 1985.

Homeowners Associations are Corporations.And therefore, the Board of Directors and the homeowners should conduct the business affairs of the HOA in a professional manner (as a corporation and as a business) pursuant to the laws governing corporations.

The U.S. Constitution prohibits bills of attainder but developers create them and use them as the law of the land in a mini-government known as a Mandatory Homeowners Association. If this is prohibited by the Constitution then clearly HOA's are unconstitutional.

Ask to see the HOA budget. Join the HOA board. Review the HOA's contracts. Reduce landscaping costs. Determine if HOA is paying too much in property management fees. Look at insurance premiums. Defer non-essential maintenance or other projects.

New Hampshire Articles of Organization of Homeowners Association

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