Virginia Articles of Incorporation of Homeowners Association

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Description

A nonprofit corporation is one that is organized for charitable or benevolent purposes. These corporations include certain hospitals, universities, churches, and other religious organiza¬tions. A nonprofit entity does not have to be a nonprofit corporation, however. Nonprofit corporations do not have shareholders, but have members or a perpetual board of directors or board of trustees.

A Home Owners Association is an organization of homeowners of a particular subdivision, condominium or planned unit development. The purpose of a home owners association is to provide a common basis for preserving maintaining and enhancing their homes and property. Most homeowners' associations are non-profit corporations. They are subject to state statutes that govern non-profit corporations and homeowner associations. The associations provide services, regulate activities, levy assessments, and impose fines. Usually, each member of a homeowners association pays assessments. Those assessments or dues are used to pay for expenses that arise from having and maintaining common property.

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FAQ

In a condominium association each unit is owned individually and the common elements are owned jointly in common with all of the unit owners. In a homeowners association each lot is owned individually, but the common areas are owned by the Association (not by the lot owners).

Common Interest Community Board | Virginia Department of Professional and Occupational Regulation.

The Virginia Property Owners' Association Act covers policies mostly for the common areas of a residential development in Virginia. The seller is obligated to provide a written copy of all association documents before a buyer purchases a home. A buyer may cancel within three days of receiving the association documents.

Fortunately, you can, with the help of an attorney. You should be aware of the following: The law may be on your side. HOA members have certain rights under the Virginia Property Owners' Association Act and the Virginia Condominium Owners' Association Act.

Common Interest Community Board. This board regulates community managers and certain employees of licensed management companies. Associations in Virginia must file reports with this board on an annual basis.

Many associations have communication channels in place so that homeowners can talk to the board or the community manager about any issues. However, if you wish to file a complaint against your HOA, you can do so with the Office of the Common Interest Community Ombudsman.

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Virginia Articles of Incorporation of Homeowners Association