Posted by Natalie-VA on February 27, 2009 at 06:36:26:
I’ve never done this, but I would start by reviewing some recorded documents (declarations) from other associations to see if you can work with those. I don’t think you can do it without the other owner’s permission though, but that shouldn’t be an issue if they’ll need to resell their unit too.
Urgent: setting up Owner Association for duplex - Posted by Brian_Wa
Posted by Brian_Wa on February 26, 2009 at 13:03:34:
I bought a townhouse from an auction. The whole complex has only 2 units (sharing a wall) and I bought one of the units. The other unit was also sold (well the bank took back the property since nobody else but the bank bidded on it) but I didn’t buy it. Now I have found a buyer for my unit but his lender may need info to the homeowner association which I don’t have. How do I go about creating a homeowner association? What do I need to do? Can I do it without having to get permission from the other owner?
As far as I can tell, the previous 2 owners simply set up an joint account and each put in $150 every 3 months to pay for minor maintenance and also for the homeowner insurance.
Some states have a HOA template - Posted by Rich-CA
Posted by Rich-CA on February 27, 2009 at 17:42:59:
available to help get you started. If not, you may need to buy one from an attorney who specializes in an HOA. I do not see why an HOA is necessary. There are a lot of properties with common walls that merely have deed restrictions and no HOA. But we’ve talked about this before. I’d see an attorney about a boilerplate.
Re: setting up Owner Association for duplex - Posted by brandoncbsre
Posted by brandoncbsre on February 27, 2009 at 17:06:27:
I would start by contacting the bank that owns the other unit. They may have their lawyers take care of it for you.