Property Owner Association Agreement
A written contract of a group of property owners, typically condominium owners, describing their joint ownership obligations and rights. The association agreement usually allows members to approve new owners before a sale, and gives the right to charge each resident for agreed upon building operating expenses.
Popular Real Estate Terms
Generic name given for any association of property owners sharing an interest in commonly owned property. Community associations may be developed in condominium, cooperative, or housing ...
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Loan such as a mortgage that the borrower has consistently made payments on when due over many years. The borrower has proven his creditor worthiness. ...
Owned by one individual or sole ownership. ...
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Amount the taxpayer gets back when he or she files the tax return at the end of the reporting year because taxes were overpaid for that year. The tax overpayment equals the tax payments ...
Comments for Property Owner Association Agreement
WHAT IS THE PROPER DESIGNATION FOR A COMMERCIAL DEVELOPMENT
Nov 07, 2019 06:58:27Hi Sue!
I'm going to need a bit more info. What is the scope and scale of the development? What service or services does it provide?
Nov 12, 2019 12:28:33Does a commercial association need to be incorporated?
Nov 07, 2019 06:57:04Hi Sue!
To answer your question, no, there are no laws obligating you to incorporate your commercial association. However, doing so is highly advisable, as incorporation separates your personal assets from those of the association and provides you with some protection you from lawsuits and other legal inquiries.
Nov 12, 2019 12:18:47Have a question or comment?
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