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HOMEOWNERS ASSOCIATION MANAGEMENT

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     BC Communities

     4905 Mermaid Blvd.

     Wilmington, DE 19808

 

     302.234.7710 phone

     302.234.7718 fax

 

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Association 101Homeowner Association Terminology... Who's who

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Governing Documents

 

- All documents that regulate the community life

- Documents may vary depending on type of Association (condo, townhome, etc.)

- State law

- Maintenance Declaration

- Deed Restrictions/ CCRs 

- Bylaws

- Rules and Regulations

- Plats of Survey and Easement Agreements (may be separate, often included in the Declaration)

- Basic Condominium/Townhome Legal Documents

- State Enabling Statute-permits the creation of condominium/townhome form of ownership and

  prescribes the basis of determining ownership interest, rights and obligations of the owners, duties 

   association, and the process of dissolution of the condominium and powers of the          

- Subdivision of Condominium/Townhome Plat-describes the location and nature of the common

  elements and the units

- Condominium Declaration or Master Deed-defines the units, common and limited common

  elements, and is the  collection of covenants imposed on the property to provide for:

               - The basis for allocation of percentage ownership interest

               - The obligation of each owner to share in funding the cost of association operations

               - The power, authority, and responsibility of the association in its operations and in

                making  and enforcing rules  

- Individual Unit Deeds-comprises the individual unit deed

 

 

Articles of Incorporation

 

- Creates the association as a corporation under state corporate statute and defines its membership

   and sets forth the process for creating the board of directors, voting procedures, etc.   

 

 

Bylaws

 

- Implements, in specific detail, the provisions of the Declaration 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   

 

 

 

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