M100 With Complete Solutions 100%

M100 WITH COMPLETE SOLUTIONS 100% Legal Entity A community association is a legal entity where property owners collectively enjoy the protection, enhancement, maintenance, and preservation of their homes and properties. Defining Characteristics 1. Mandatory Membership: All property owners in the community must automatically become members of the association. 2. Mutually Binding Documents: Governing documents that bind the owners and the association to certain mandated actions. 3. Lien-Based Assessments: Mandatory assessments (maintenance fees) are levied on each owner to fund the operation and maintenance of the community association. Types of Community Associations 1. Planned Community: Owners own their lot and/or living unit, while the community owns common areas for the benefit of all lot owners. 2. Condominium: Owners own their living unit and an undivided interest in the common elements of the community. 3. Cooperative: Owners own stock or membership in the cooperative and hold a proprietary lease or occupancy agreement for their living unit. Specialized Community Associations 1. Master or Umbrella Associations: Consist of multiple residential community associations. 2. Mixed-Use Development: Combines residential, commercial, and/or industrial uses. 3. 55 and Older Communities: At least 80% of the occupied units must have one resident aged 55 or older. Legal Obligations 1. Federal, State, and Local Laws: Community associations must comply with various statutes, regulations, and case law. 2. Association-Specific Legal Documents: Documents that bind the association and owners. 3. Lender Requirements: Standards set by lenders. 4. Professional Bodies: Standards set by recognized professional organizations. Federal Laws Affecting Community Associations 1. EEOC: Prohibits employment discrimination. 2. FLSA: Dictates minimum wage and overtime pay standards. 3. FMLA: Provides for unpaid leave for medical issues. 4. FICA: Governs Social Security contributions. 5. OSHA: Outlines employee safety guidelines. Governing Documents 1. Declarations, CC&Rs, Master Deeds: Establish ownership rights, set up the association charter, and detail voting rights and limits on assessment fees. 2. Articles of Incorporation: Establish the corporation if the association is incorporated. 3. Bylaws: Regulations for administration and management, such as board member elections and meeting procedures. 4. Resolutions: Formal motions adopted by the Board of Directors. Types of Resolutions (GASP) 1. General Resolutions 2. Administrative Resolutions 3. Special Resolutions 4. Policy Resolutions Public Offering Statement A disclosure statement providing information on the community association to prospective buyers in a new development. Not a governing document but often accompanied by them. Document Hierarchy Higher-level documents have greater legal weight in court. In case of conflict, the higher document prevails. Real Estate Laws 1. FDCPA: Protects debtors from unscrupulous debt collectors. 2. FHA: Prohibits discrimination in housing-related services. 3. FCC: Regulates restrictions on video antennas and satellite dishes. 4. SSCRA: Delays civil court actions for service members until they return from active duty. 5. US Bankruptcy Code: Regulates bankruptcy filings. State Statutes 1. General: Broad laws that may apply to many types of associations. 2. Specific: Laws tailored to particular types of associations. 3. Uniform: Standardized laws adopted by multiple states.