Quote:
Posted By LauraR2 on 06/12/2008 12:59 PM
I hope no one minds me resurrecting this old thread. I found some new relevant information I would like to share (and get input on) regarding who owns our road.
Further in our R&RC, it states, "Grantor shall grant and convey to the Association, and that latter shall take and accept from the Grantor, the Common Areas, not later than 60 days after 100% of the total lots subject to this Declaration have been conveyed to an owner by mortgages, judgment liens, or similar liens or encumbrances. The Common Areas shall be the roadways and walkways enclosing the common area on recorded subdivision plat of ***** **** [development]."
I am not even addressing the insurance issue in this post. Can someone help interpret the above quote? To me it sounds like there is a deed or something official that needs to take place. All of our lots have been sold but the Developer is now out of business! Has anyone else gone through this process? The people at the courthouse weren't very helpful, unfortunately.
Laura,
What normally happens is the developer deeds, to the assn, all the common areas at the time of transition to the members. If the developer did not do this b/4 going out of business then the assn doesn't own the common areas and this alone could open a whole new can of worms! If the board is unable to research this matter alone, I would suggest contacting an attorney. The board needs to find out who owns the common areas and where to go from there. There is one thing mentioned in the quote that is confusing. It says "the common areas shall be the roadways and walkways enclosing the common area. . ." If the common area is only the roadways and walkways then what is the "common area" they enclose???? The board needs to find out about ALL the common areas; not just the roadways and walkways.
Contrary to what Kirk says, I believe it is a matter to be worried about, even if "only" roads are at issue. Roads are very costly to maintain and may be contained in a parcel that is subject to property taxes.