Property Owner Association Agreement
Definition of "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.
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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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