Mooresville & Lake Norman NC Subdivision & Planned Community Series Part 2-What You Need to Know About Homeowners Associations
Following up with part 2 on the Q&A series on Subdivisions and Planned Communities in the Mooresville and Lake Norman North Carolina area, we pick up the discussion with 2 more frequently asked questions put forth by potential home buyers in a community governed by a Homeowners Association.
Do I have to join the association?
Membership in the homeowners association will depend on whether the association is voluntary or mandatory. If the covenants and restrictions are recorded in a property's chain of title & filed with the deed the membership is usually mandatory. some neighborhoods, such as the community of Westport in Denver, NC, have less formal voluntary associations. And less formal will generally mean less power for the HOA. If you are a member of an association, be it mandatory or voluntary you will have a voice in its operation.
Is there any limits on what an owner has to pay to the association?
If homeowner dues, assessments or charges are lawfully imposed in agreement with the procedures filed in the subdivision's covenants & restrictions, there is no limit to the fees that can be charged to homeowners in the association. Sometimes, homeowners face assessments for major projects such as road maintenance or utility services that can be costly. With that in mind, a prospective home owner should always inquire about any pending or current assessments or planned increases in HOA dues to make sure you can afford to live in that community. If you are already an owner in a community with an HOA and you believe the the association has imposed a charge not in accordance with the covenants & restrictions of the community it will take a court decision to determine whether or not it is lawful.
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