KasiY (Georgia)
Posts: 3
Posts: 3
Posted:
We live in a community that was built in 2007 and was originally supposed to be 102 homes. The bubble burst and the builder went bankrupt only having built 20 of those homes. The neighborhood sat almost empty with the exception of three original home owners until the last few months when every home, and all 80 lots were bought. The bank that owned the homes has returned the the HOA to the homeowners so we're starting from scratch and none of us really have any idea what we're doing. What we have realized though is that we don't have enough money to fulfill the original covenants that were meant for a 102 house neighborhood. This lack of funds would be somewhat remedied if the owner of the lots would step up and pay towards lawn maintenance (he does own 4/5 of the neighborhood) and the electric bill since his lots are lit up every night and the HOA pays for it. Is there anything legal he has to do since he doesn't actually own homes, just the lots?
Any advice would be appreciated. Thank you!
Any advice would be appreciated. Thank you!