What is a Homeowners Association (HOA)?

A Homeowners Association (HOA) is a legal entity created by a real estate developer or an association of unit owners to manage the common areas of a housing development or condominium complex. HOAs are common in condominiums, townhomes, and planned communities in Delaware. HOAs typically have the authority to set rules and make decisions on behalf of homeowners in the development. This can include decisions about how common areas are maintained, the enforcement of rules or restrictions against the use of common spaces, and the collection of dues to cover common expenses. HOAs are governed by the Delaware Nonprofit Corporation Act, which outlines the powers of HOAs and sets forth procedures for how an HOA should be created and maintained. The Delaware Nonprofit Corporation Act also details the responsibilities of the association, the rights of the members, and the duties of the board of directors. HOAs typically have the power to maintain common areas, collect dues, impose fines, and enforce rules and regulations regarding the use of the shared spaces. HOA boards are elected by the members and are responsible for carrying out the decisions of the association. HOAs in Delaware are designed to protect the interests of homeowners in the development. To ensure that all unit owners remain in compliance with the rules and regulations of the HOA, associations may impose fines or other penalties, including the initiation of foreclosure proceedings, against homeowners who fail to comply.

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What is a Homeowners Association (HOA)?

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