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Horizontal Property Regime (HPR), or condominium ownership, is a legal system allowing multiple parties to own individual property units. Each owner has a separate deed and a shared responsibility for the maintenance and upkeep of the property.
The Arkansas Horizontal Property Act governs most condominiums in the state that choose to be subject to the Act by recording a Master Deed or Declaration.
The Arkansas Horizontal Property Act oversees the creation, management, authority, and operation of horizontal property regimes, including homeowners associations, that record a declaration or master deed. By recording these documents, the horizontal property regime is choosing to be bound by the Act.
A POA is not limited to the type of building or property owner that it governs. Whereas a HOA is about a community of the same type of properties, a POA is usually a mix of property types, including single family residences and businesses. The goals of a POA are very different too.
In Arkansas, HOAs are regulated by the Arkansas Horizontal Property Act found in Title 18 Chapter 13 of the Arkansas Code. This act applies to all planned communities for residential, commercial, or industrial use. Otherwise, governing documents regulate HOAs.