EugeneD
(Texas)
Posts:14
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| 06/04/2008 7:06 AM |
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| Please help! |
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RogerB
(Colorado)
Posts:3694
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| 06/04/2008 7:25 AM |
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| Eugene, for a voluntary association the member paying dues can elect not discontinue the HOA. For a manditory HOA (assessments against the property) read your Declaration of CC&Rs to determine whether or not it is possible to terminate. For a manditory HOA it may not be possible to terminate. |
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Roger Borcherding
Official HOATalk.com Sponsor
DARCO Property Management (Colorado)
(303) 925-0150 
*See legal notice below (end of page) or go to www.hoatalk.com/legal |
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EugeneD
(Texas)
Posts:14
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| 06/04/2008 7:39 AM |
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| Okay Thanks! |
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BB2
(Missouri)
Posts:26
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| 06/04/2008 8:58 AM |
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| You can also look in your state statutes. In Mo. you can file dissolution with the Att. General if your HOA has any assets you have to tell them how they will be distributed. |
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BrianB
(California)
Posts:1731
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| 06/04/2008 9:51 AM |
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Posted By BB2 on 06/04/2008 8:58 AM
if your HOA has any assets you have to tell them how they will be distributed.
And in general, that's the "catch 22" for most HOA's trying to disband... what to do with the common elements. |
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MaryA1
(Arizona)
Posts:2156
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| 06/04/2008 12:27 PM |
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| Where is Eugene's question? All I see is "Please help"! |
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DonaldM3
(South Carolina)
Posts:21
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| 06/04/2008 1:26 PM |
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| My reaction initially also but he's asking for help with his "Subject" question. |
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SusanW1
(Michigan)
Posts:2116
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| 06/04/2008 1:31 PM |
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What do you mean vote the HOA "out"?
Vote out The Board? Dissolve the Association?
Your CCRs and bylaws should have all the details necessary for either.
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KellieP
(Maryland)
Posts:6
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| 06/04/2008 7:13 PM |
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In MD you can dissolve the HOA as well. In my situation we are about to take possesion of the Board from the Developer at the end of the year. The distribution of the remaining "monies" brings up a good point.
Is it niave to think in a situation where the HOA is only two years old that the reserves could be either be distributed evenly to the homeowner's or that the be used for a final HOA community improvement?
Our City/county takes care of roads, trash removal, snow removal, lanscaping and various other HOA functions. We do not have a community park, club house or pool. The only common areas are small patches throughout the 188 house development and a short walking path.
We seem to be paying for attorney's, accountants and pthe roperty management group and not much else.
The developer and residents have agreed to allow three of us to create a commitee to evaluate the books, current vendors etc..
We are looking at this right now as a good time to terminate the HOA if the city/county can truly take over most if not all the items the developer claims he is currently taking care of...(trees are dead, paving of roads is incomplete, etc.)
I am interested to hear anyone's experience or opinion on the value of an HOA based on this info.
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KellieP
(Maryland)
Posts:6
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| 06/04/2008 7:15 PM |
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| sorry please correct....attorney's and property management group |
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SusanW1
(Michigan)
Posts:2116
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| 06/04/2008 7:26 PM |
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You said "we are about to take over from the developer"
So it's NOT yours yet.
Guess who will KEEP the Reserves?
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BrianB
(California)
Posts:1731
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| 06/04/2008 9:46 PM |
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A) SUsan has a great point
B) if everything is as you say, and a local government is truly doing the landscaping around you, the crux of the issue is who gets/owns/pay taxes/is responsible for the small common areas between everyone? One of the big hurdles is distribution and future control/upkeep/taxes on the little plots of land that HOA's tend to own. Are those plots deeded in perpetuity for some function (for example, our were required to stay as water retention basins, and thus, had little to zero value to anyone for anything).
You may well be in a situation where you can dissolve the HOA. It's going to take research and a little bit of hoop jumping to find out. |
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JC3
Posts:290
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| 06/05/2008 1:37 PM |
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Good for you, and I hope all goes well.
Consider deeding the patches of land to the person(s) whose property buts up to them--giving them larger yards. |
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EugeneD
(Texas)
Posts:14
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| 06/06/2008 7:14 AM |
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You can also look in your state statutes. In Mo. you can file dissolution with the Att. General if your HOA has any assets you have to tell them how they will be distributed.
I looked in my CCR's and by-laws and I didn't see anything stating how I go about doing this.
State Statutes??? What is this? All this is new to me. |
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EugeneD
(Texas)
Posts:14
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| 06/06/2008 7:17 AM |
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| Yes I want to dissolve the HOA for our neighborhood |
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MaryA1
(Arizona)
Posts:2156
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| 06/06/2008 7:38 AM |
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Eugene,
The CCRs should have an article entitled "Termination" or "Dissolution". Read it very carefully! You may also want to check out state laws to see how an HOA can be terminated/dissolved. There are many ways of doing this -- dissolution by the BOD or the members, administrative dissolution and judicial dissolution. Any of these methods will require a plan for transfer or disbursement of all assets. In AZ, articles of dissolution must be filed with the corp. commission. I'm sure Texas has a requirement to file a like document with whatever St. agency grants corporate title to an entity, assuming your HOA is a non-profit corp.
Most importantly, unless you have a group of like-minded homeowners to work with you, it probably won't happen!! Don't want to be the voice of doom and gloom, but if you are a group of one you're going to have a very hard time accomplishing this. |
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