VickiD1 (West Virginia)
Posts: 34
Posts: 34
Posted:
Property with 15 homes can we dissolve our homeowners association? It seems to be more trouble then it is worth. Is this smart or should we try to continue?
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Dissolve HOA??
Started by VickiD1 • 6 replies • 1669 views
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JanP1 (Arizona)
Posts: 76
Posts: 76
Posted:
I know you probably hate the words "that depends"...
You will need to do some research, Start first with your CC&R and Articles of Incorporation, they will give you some idea of if, how and when you can dissolve the HOA. While in the CC&Rs check to see if the mortgage holders have a vote as to whether you can dissolve the HOA.
Then when you have that information, go to the developer's plat maps filed with the local building authority and see if there is anything there that mentions the HOA (usually it is a utility - there have been some changes with cable companies so don't worry if that's all you see.)
Somewhere along the line you will have to determine who owns the streets, if they are the association streets you will have to go through the process of dedicating them back to the governmental entity in which you are located. (Just an editorial comment here: Most of the governmental entities are requiring HOAs to take care of the streets in their associations, so they don't have to budget for street maintenance - ;( thank you for allowing me that rant.)
Then there is what to do with the money. Check state law, in addition to HOA law, check nonprofit corporation law as well.
Keep us posted!
You will need to do some research, Start first with your CC&R and Articles of Incorporation, they will give you some idea of if, how and when you can dissolve the HOA. While in the CC&Rs check to see if the mortgage holders have a vote as to whether you can dissolve the HOA.
Then when you have that information, go to the developer's plat maps filed with the local building authority and see if there is anything there that mentions the HOA (usually it is a utility - there have been some changes with cable companies so don't worry if that's all you see.)
Somewhere along the line you will have to determine who owns the streets, if they are the association streets you will have to go through the process of dedicating them back to the governmental entity in which you are located. (Just an editorial comment here: Most of the governmental entities are requiring HOAs to take care of the streets in their associations, so they don't have to budget for street maintenance - ;( thank you for allowing me that rant.)
Then there is what to do with the money. Check state law, in addition to HOA law, check nonprofit corporation law as well.
Keep us posted!
VickiD1 (West Virginia)
Posts: 34
Posts: 34
Posted:
Thanks for you help, this is proving quite the challenge and it is nice to find some educated people who would help a complete stranger....We have one road in and the same one out. We hardly get any road maintenance out where we live so I could see this would be a challenge...Thank you for your time...I have homework to do...
BruceC2 (Virginia)
Posts: 54
Posts: 54
Posted:
Vicki,
I stumbeled across this and realized I was talking to you about another issue,you need to read my questions and responses on ROAD FUND PROBLEMS as well as SPECIAL ASSESSMENT they should be located between pages 2-6 it describes how to get 50% financing through your county to bring your roads into the vdot system.If the 15 homeowners of this association only purpose is to maintain the roads you may have solved both questions. Once the road goes Public there is no need for an association or TREASURER.
I stumbeled across this and realized I was talking to you about another issue,you need to read my questions and responses on ROAD FUND PROBLEMS as well as SPECIAL ASSESSMENT they should be located between pages 2-6 it describes how to get 50% financing through your county to bring your roads into the vdot system.If the 15 homeowners of this association only purpose is to maintain the roads you may have solved both questions. Once the road goes Public there is no need for an association or TREASURER.
VickiD1 (West Virginia)
Posts: 34
Posts: 34
Posted:
Bruce are the man...I will read this and continue my quest to break the secret code Know as the HOA. This is strange to so many ins and outs but no one place to give you all the answers....Thanks again Bruce...V
SusanW1 (Michigan)
Posts: 5,202
Posts: 5,202
Posted:
So, Vicki - WHAT IS the purpose of your association? (From your Articles or other documents?)
VickiD1 (West Virginia)
Posts: 34
Posts: 34
Posted:
It seems to take care of the one road into the developement. The road maybe is .25 of a mile. There are the basic no poultry and livestock animals. Really that is it.
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