2 ms·
My HOA is worded such that it must exist for at least 30 years and there are no facilities to dissolving it before that time (after that time, a simple majority
by mywittyname 2y ago
My HOA is worded such that it must exist for at least 30 years and there are no facilities to dissolving it before that time (after that time, a simple majority can vote to dissolve it, so long as the city agrees to incorporate the land and infrastructure). In this case, it's because the HOA is responsible for the loans taken out and long term leases to manage the sub division's infrastructure.
And yes, geese love to poop everywhere.
- JumpCrisscross 2y ago> My HOA is worded such that it must exist for at least 30 years and there are no facilities to dissolving it before that time Technically, there are. Lack of an explicit termination clause doesn't mean an agreement can't be terminated. But the party that would object to that termination is the lender. If you had their sign off, you could dissolve the HOA today.
- kelnos 2y agoI was assuming that too. At the very least, the CC&Rs/by-laws could be amended to remove that clause. But, right, presumably the lender is a party to the agreements with enough power to vote down that change.