Photograph by Patrick Tomasso via Unsplash.

HOMEOWNER ASSOCIATION TERMINOLOGY

Who's Who

Board of Directors


The Board of Directors are the elected Association Members who make decisions for the good of the Association: President, Vice President, Secretary, Treasurer, and Director(s) as Large.




Association Manager


The Association Manager is the person or entity who performs the day-do-day functions.





Governing Documents

What do Governing Documents do?


The Governing Documents of an Association regulate the community life within the Association.




What are the different Governing Documents?


Documents may vary depending on the type of Association (single family, condo, etc.). * Federal and State Law * Declaration of Covenants or Master Deed * Conditions and Restrictions * Bylaws * Rules and Regulations * Plats of Survey and Easement Agreements (these may be separate but are often included in the Declaration)





Applicable Civil Rights Laws

Civil Rights Act of 1866


This Act prohibits against racial discrimination. (14 Stat. 27) https://en.wikipedia.org/wiki/Civil_Rights_Act_of_1866




Civil Rights Act of 1968 a.k.a. Fair Housing Act of 1968


This Act was passed to prevent specific discrimination in terms of ethnicity or race in regard to housing in the capacity of financing, sales, or renting. https://en.wikipedia.org/wiki/Civil_Rights_Act_of_1968




Equal Credit Opportunity Act of 1974


This Act makes it unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction, on the basis of race, color, religion, national origin, sex, marital status, or age. https://en.wikipedia.org/wiki/Equal_Credit_Opportunity_Act




Fair Housing Amendments Acts of 1974 and 1988


The Act of 1974 added gender to the protected classes of the Civil Rights Act of 1968. The Act of 1988 added people with disabilities and families with children to the protected classes of the Civil Rights Act of 1968. https://en.m.wikipedia.org/wiki/Civil_Rights_Act_of_1968 * There are some types of allowed discrimination - Do your research! * Boards are prohibited from discrimination in exercising its 1st Right of Refusal. * HOAs must abide by laws prohibiting discrimination against families with kids.




Americans with Disabilities Act of 1990


The ADA is a civil rights law that prohibits discrimination against individuals with disabilities in all areas of public life, including jobs, schools, transportation, and all public and private places that are open to the general public. https://adata.org/factsheet/ADA-overview





HOA Legal Documents and Hierarchy

HOA Legal Documents and Hierarchy


Subdivision Plat - describes the location and nature of the common property and the individual lots Property Deeds - the individual lot deeds and the deeds to common property which give a legal description of the property The Declaration of Covenants, Conditions, and Restrictions - the collection of covenants imposed on all properties within the development Articles of Incorporation - creates the Association as a legal entity under State of Alaska corporate statute; defines the board powers and responsibilities of the Association and its Membership; and, sets forth the process for creating the Board of Directors, voting system, etc. Bylaws - implements, in specific detail, the provisions of the CC&R's and the Articles of Incorporation regarding the association operations, including delineation of the meeting process, election procedures, powers and duties, board meetings, committees, insurance requirements, rule-making and enforcement process Rules and Regulations - sets forth the operational powers or provisions and the use restrictions adopted by the association





RESALE CERTIFICATE

 

Pursuant to AS 34.08.590, a Resale Certificate is required for a sale of property within many of the Associations we manage.  Buyers are allowed 5 days to review per statute.

The Resale Certificate allows prospective buyers the opportunity to evaluate the financial stability and overall management of the Association.  Here is a partial list of what a Resale Certificate contains and why it is important to review it carefully:

  • Amount of dues and how often assessed;

  • Pending special assessments, unsatisfied judgments or pending litigation, if any;

  • Financial reports and meeting minutes;

  • Pending capital expenditures in excess of $3,000 for the current and the next two fiscal years;

  • Insurance coverage: Directors & Officers coverage and/or General Liability coverage for the Association, if any;

  • A copy of all governing documents providing insight as to what an owner can or cannot do in the Association.

The Resale Certificate order form should be filled out and emailed or faxed to us for processing, if required.  We request 10 days to process.

Photograph by Kent Rebman via Unsplash.

 

ASSOCIATIONS WE MANAGE

 

Aero S/D on Wolf Lake Homeowners' Association

Aleutian Estates Water Association  (Consumer Confidence Report)

Brentwood Estates Owners' Association

Church Ridge Estates Homeowners' Association

Colonial Park Owners' Association

Creekshore Estates Homeowners' Association

Crimsonview Owners' Association  (Consumer Confidence Report)

Eagle Estates Homeowners' Association

Eagles Roost Owners' Association

Heart Haven Estates Owners' Association  (Consumer Confidence Report)

Inlet View Owners' Association

Iris Circle Water Corporation  (Consumer Confidence Report)

Lake Pointe Homeowners' Association

Memory Lakes Estates One Owners' Association

Midtown Estates Property Owners' Association

Northern Comfort Estates Owners' Association

PAAQ Hangar Association

Paradise Park Homeowners' Association

Pioneer Meadows Homeowners' Association  (Consumer Confidence Report)

Ranch Phase 7B Lot Owners' Association

Ridgewater Coves Owners' Association

Scotwood Water Association  (Consumer Confidence Report)

Serendipity Hills Owners' Association

Serendipity Home Owners' Association

Settler's Bay Airstrip Association (part of Crocker Creek S/D, Phase II)

Sheena May Estates Homeowners' Association  (Consumer Confidence Report)

Starboard Cove Homeowners' Association

Violet Circle Water Association  (Consumer Confidence Report)

Wasilla West Property Owners' Association  (Consumer Confidence Report)

Wildrose Circle Water Corporation  (Consumer Confidence Report)

Woodfield Estates S/D Homeowners' Association

Woodfield Park Estates Homeowners' Association

Lawrence Airfield S/D including Aviation Ridge - Resale Certificate ONLY

© 2019 Double Eagle Real Estate & Investments, Ltd.  Proudly created with Wix.com.