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
The coefficient of dispersion is how municipalities can determine differences between the assessed values of properties in an area or neighborhood. It gives a broader look at the state of ...
Organizational governing group. Either an appointed or elected body overseeing the management of an organization and rendering advice on current issues. Members are legally responsible for ...
Analysis of a real estate sales data to appraise real estate values. Sources of real estate sales data used in the market data approach include the official records of deeds and leases ...
Written obligation of a borrower that is backed by collateral in the event of default. The lender must assure himself that the market value of the security equals or exceeds the amount of ...
Land development planning model theorizing that an urban area grows in rings expanding out from the central business district. The second ring is a shifting area having manufacturing and ...
Not sure about something such as suspecting the truthfulness of statements made by a real estate agent. Stipulation in a deed giving the grantor some retained privilege or right in the ...
Condensed appraisal report covering the major items. ...
House made using standardized components that are preassembled on an assembly line in a factory rather than being built from "scratch" on a site. Normally, the prefabricate house is trucked ...
(1) Mildly convex arch built into a load bearing beam, girder, or truss to counteract any load bearing stress placed on it. (2) Slight slope designed into a structure such as a drive4way or ...
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?
We're here to help.