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Subject: Individual State Statutes
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Author Messages
ShirleyT
(Idaho)

Posts:4


07/20/2006 7:41 AM  
Buyers often assume Homeonwer Association Statutes are the same in every state. NOT SO. For Example, Idaho's statutes were adopted in the 60's and little if anything has been done to up date them since. They are very bland, no teeth, no protection for buyer/owners. If you live in Idaho, write your legislature, the Secretary of State and demand the Homeowner/Condominium Statutes be promptly updated. At the very least, every set of documents should include an agreement to 'Mandatory Non-Binding Arbitration' for dispute resolution.

In the best managed Associations, disputed arise. Arbitration is an inexpensive, easy and relatively timely process. Legal battles have long reaching implications. Insurance companies are becoming more and more hesitant about insuring Homeowner Asociations because of the frequent and increasing number of law suits.

States Association Statutes are available on line and should be reviewed before buying.

Shirley T
Hayden, Idaho
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Forums > Homeowner Association > HOA Discussions > Individual State Statutes



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