ValerieM1 (Texas)
Posts: 3
Posts: 3
Posted:
I live in a small Texas lake community with a mandatory HOA membership. The bank foreclosed on the developer and now holds the deed to the lake access common area. The bank is VERY anxious to transfer title to the HOA but the HOA has been inactive for 3 years and is now in Forfieture. It was never transitioned to the property owners. There are 40 lots; all but 6 are undeveloped. Many were purchased as investments.
The HOA was originally filed as a Nonprofit Corporation but since Texas regognizes "Unincorporated Non Profit Associations" we are considering this as a quick alternative to re-filling the corporation, in order to facilitate acquisition of the common area. Once this is achieved we can proceed with the reinstatement of the corporation at a later date.
Atempts to achieve member involvemnt has proved fruitless since most property owners live a distance away. There are only 6 current homes and 2 of them are non permanent residents; leaving 4 of us to maintain the entire community. (physically and financially)
Does this sound like a viable alternative at this point:
Unincorporated Nonprofit Associations: Section 252.001 of the BOC defines an unincorporated nonprofit association as an unincorporated organization consisting of three or more members joined by mutual consent for a common, nonprofit purpose. All unincorporated nonprofit associations, whether or not the entities are tax exempt, are subject to the provisions of the Uniform Unincorporated Nonprofit Association Act, Chapter 252 of the BOC. The Act addresses a limited number of major issues relating to nonprofit associations; namely, the authority of the nonprofit association to acquire, hold and transfer property in its own name; the authority to sue and be sued as a separate legal entity; and the contract and tort liability of an association's officers and its members.
Thanks for all,
The HOA was originally filed as a Nonprofit Corporation but since Texas regognizes "Unincorporated Non Profit Associations" we are considering this as a quick alternative to re-filling the corporation, in order to facilitate acquisition of the common area. Once this is achieved we can proceed with the reinstatement of the corporation at a later date.
Atempts to achieve member involvemnt has proved fruitless since most property owners live a distance away. There are only 6 current homes and 2 of them are non permanent residents; leaving 4 of us to maintain the entire community. (physically and financially)
Does this sound like a viable alternative at this point:
Unincorporated Nonprofit Associations: Section 252.001 of the BOC defines an unincorporated nonprofit association as an unincorporated organization consisting of three or more members joined by mutual consent for a common, nonprofit purpose. All unincorporated nonprofit associations, whether or not the entities are tax exempt, are subject to the provisions of the Uniform Unincorporated Nonprofit Association Act, Chapter 252 of the BOC. The Act addresses a limited number of major issues relating to nonprofit associations; namely, the authority of the nonprofit association to acquire, hold and transfer property in its own name; the authority to sue and be sued as a separate legal entity; and the contract and tort liability of an association's officers and its members.
Thanks for all,
