BOARD OF DIRECTORS

Started by EvelynG • 3 replies • 1379 views

💬 Join us to post & get advice from 50,000 HOA & Condo leaders.

⚡ Takes 30 seconds

Already a member? Log in

EvelynG (Virginia)
Posts: 2

Posted:

We recently purchased property in Virginia that has a "Declaration of Covenants . . ." in place - enacted in July, 1991. We have learned that this POA has never had a Board of Directors. Is it in our best interest to try to get organized now? What could happen if we left things as they are?

RogerB (Colorado)
Posts: 5,067

Posted:

Evelyn, I presume your community has no obligations otherwise there would be a manditory assessment with so sort of management required. You are not alone, many voluntary associations are defunct. It is up to your community whether or not to organize now. If nothing is done life goes on.

EvelynG (Virginia)
Posts: 2

Posted:

Our POA members (approx. 60 park model units with land) are assessed yearly by the developer for upkeep of the common property (water/sewer/elec. distribution, pool, bath houses, clubhouse, walkways, green areas, parking, taxes, etc.). This amount varies but the past two years has been $622 per unit per year. Also, the "Covenants" indicate the declaration shall bind the land for 20 years from date the declaration was recorded (July, 1991) and may be automatically extended. Can the Developer choose not to extend and, if so, where does that leave us? Remember, we have no Board of Directors. Do we need a lawyer to explain our situation to members who do not seem to be concerned?

RogerB (Colorado)
Posts: 5,067

Posted:

Evelyn, it appears your Developer assigns the Board of Directors but does not hold members meetings. If your POA is incorporated then there should be an annual meeting each year. Check to see if the Developer also created By-laws for the association. Read the Declaration, By-laws and Articles of Incorporation (if any) and then contact the Developer in writing as well as in person to request compliance with the controlling documents. Particularly if incorporated there will be state statutes of which they should be made aware and with which they should be in compliance.

When owners are paying they have the right to know where their money is going. And you have the right to review the records. If the Developer is not willing to comply then you will need to employ an experienced POA attorney.

🎯 You've read this entire discussion

Join the conversation with 50,000 HOA & Condo Leaders:

✓ Ask follow-up questions
✓ Share your experience
✓ Get expert advice
✓ Access 350,000 discussions

Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in here