MeganM3 (Kansas)
Posts: 1
Posts: 1
Posted:
I am in the process of buying a new home that has an HOA. I received the Declarations of Restrictions for the HOA. After reading through them I noticed that there was some information about how the HOA would be handled after a 20 year period. The document was created in June 1995, so the 20 year period would be June 2015. Would someone be willing to read through the attached screenshot of the section that I am curious about. I am just wondering if the HOA is still active or what happens now?
Here is the verbiage:
23. Each of the restrictions above set forth shall continue to be binding upon South Hampton, Inc. and upon its successors and assigns, for a period of twenty (20) years from June 1, 1995, and shall automatically be continued thereafter for successive periods of five (5) years each; provided, however, that the owners of the fee simple title to the majority of the front foot of the of the lots herein described may release all of the land, hereby restricted, from any one or more of said restrictions during the first twenty (20) year period, or during any successive five (5) year period thereafter, by executing and acknowledging an appropriate agreement or agreements in writing for such purposes; and filing the same for record prior to the expiration of this first twenty (20) year period, or of any (5) year period thereafter.
Thank you!
Here is the verbiage:
23. Each of the restrictions above set forth shall continue to be binding upon South Hampton, Inc. and upon its successors and assigns, for a period of twenty (20) years from June 1, 1995, and shall automatically be continued thereafter for successive periods of five (5) years each; provided, however, that the owners of the fee simple title to the majority of the front foot of the of the lots herein described may release all of the land, hereby restricted, from any one or more of said restrictions during the first twenty (20) year period, or during any successive five (5) year period thereafter, by executing and acknowledging an appropriate agreement or agreements in writing for such purposes; and filing the same for record prior to the expiration of this first twenty (20) year period, or of any (5) year period thereafter.
Thank you!