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Legal Responsibilities of an HOA Board
The role of an HOA board is critical in maintaining the quality, aesthetics, and harmony within a residential community. These elected individuals are responsible for making decisions that affect the entire HOA. It is crucial to understand that these responsibilities are not just administrative or managerial but are also legal. Fiduciary Duty The primary legal…
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When Buying a Home, What Is an Appraisal and Who Pays for it?
If you plan to sell your property in Annapolis, Maryland, you might have heard about the importance of a real estate appraisal. Appraisals are professional assessments of the value of a property. Appraisers use various methods to determine the value, including analyzing comparable properties, considering market trends, and evaluating the property’s condition and location. The…
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What Documentation Should I Prepare When Looking for a New Home?
Purchasing a new home is an exciting milestone but can also be complex and daunting. One key aspect of the home-buying journey involves gathering and organizing various documents. These documents will help you secure financing, navigate the legal aspects of purchasing a home, and ensure a smooth transaction. Proof of Income Employment Verification Credit Report…
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Navigating Legal Challenges: Top 5 Legal Issues Faced by HOAs
Understanding the dynamics of HOAs is essential for any homeowner living in a residential community governed by such an association. These entities, often responsible for maintaining communities’ aesthetic appeal and functional harmony, can become a source of numerous legal issues. Disagreements Over Rules and Regulations One of the most common points of contention between homeowners…
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Whom Does an HOA Lawyer Represent?
An HOA is a private association often formed by a real estate developer for managing and providing services to a residential subdivision, condominium, or townhome community. It is a separate legal entity, much like a corporation. It has its rights and responsibilities distinct from those of individual homeowners. An HOA lawyer does not represent individual…
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What Are the Study Reserve Requirements in Maryland?
The Maryland House Bill 107 was passed in 2022 and established statewide funding and reserve requirements for condominium associations, cooperatives, and HOAs to undertake regular reserve studies of common area components. The bill is in response to the Champlain Tower South condominium collapse in Surfside, Florida. The new legislation mirrors what was similarly passed in Montgomery…