|
Q.Is the HOA required to make executed contracts available to the individual homeowners?
A.Like corporate boards, which have a fiduciary duty to make disclosures to shareholders, a HOA board is also supposed to be upfront with its members. After July 1 of 2006, some contracts like financial records must be made available for review, upon a proper written request. If a homeowner is concerned, s/he should first write a letter to the Board formally requesting access to the records. If the homeowner does not receive a response, or a negative response, the homeowner should then make a written demand for a letter from the HOA's attorney explaining why s/he is being denied access to the records. If the homeowner still does not receive a satisfactory response, s/he should either move or hire an attorney to sue the HOA.
HOA's are sued all the time, primarily because the Board members are volunteers without any formal training who try to make up the rules as they go, arrange for kickbacks, and make petty decisions.
CC&Rs, CC&R, Declaration of Covenants, Conditions and Restrictions, covernants, conditions, restrictions, homeowner association, homeowners association, hoa, condo, condominium, townhouse, townhome, town home, home owner association, condominium laws, condo laws, california condo laws, condominium codes, HOA laws
|
|
