What is the procedure for taking the Association from the Developer?

Started by TammyJ • 2 replies • 1331 views

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TammyJ (Tennessee)
Posts: 1

Posted:

Our community needs some advice. We live in a subdivision in Tennessee that is almost completely built. Our developer still wants to run it because he wants to make the rules as he goes. Is there any legal issues we need to take the association from him and give it to the development?

RogerB (Colorado)
Posts: 5,067

Posted:

Tammy, the answers should be in your Declaration of CC&Rs and By-laws. You may also want to review the thread on this board and the Community Assocition Network link on the left related to transition audit (homeowner takeover from Developer).

GloriaM (North Carolina)
Posts: 829

Posted:

Tammi:

Your governing documents will state the turn over time, most state when it is 75% sold the HOA will take over. Read your CCR's as I am sure it is there. If you are 75% sold out then you would call your first annual meeting to elect a Board of Directors.

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