Because You Are Buying More Than a Home: Part I

The HOA Detective

Mt. Hood“Because You Are Buying More Than a Home!” What does this tag-line really mean? What “more” are you buying when you purchase a home in a homeowners association?

When a buyer purchases a home in a homeowners association (HOA) they are not only purchasing a piece of real property, they are also involuntarily enrolled as a member or “investor” in a non-profit corporation which is known by various names including, homeowners association; property owners association or the somewhat nondescript owners association. In the case of condominiums or other attached housing schemes it may also be referred to as the “association of units owners” or “unit owners association.”

Regardless of the name, the organization functions in essentially the same manner and in the vast majority of cases it is organized under the corporation laws of the state where the property is located. There are a few exceptions to this…

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