Chapter 1

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Chapter 1
2013-07-12 00:16:02
What Community Association

To define community association and its elements to Differentiate among single family homes, rentals U community associations To name some of the pros and cons of community associations To distinguish the different types of community associations To understand the corporate aspects of a community
Show Answers:

  1. Define community association
    Real or personal property owned by two or more entities with a legally binding agreement to share responsibility and costs for maintenance and administration of the property, assets and association and with specific rights granted to the members.
  2. What are five types of community associations in FL?
    • Condo
    • Mandatory HOA
    • Coop
    • Mobile Home
    • Timeshare
  3. What are the primary purposes of community associations?
    • Preserve, protect and enhance the value of the community and it's assets.
    • Enhance the lifestyle of community.
    • Provide a harmonious community.
  4. What are the three specific requirements of community associations in FL?
    • Membership is mandatory
    • Members have a right to vote
    • Assessments, if unpaid, can be placed as a lien on the member's property.
  5. Name 3 advantages and 3 disadvantages of membership in a community association.
    • Shared amenities, such as tennis courts, pools, clubhouses, marinas, golf courses
    • Shared maintenance expenses
    • Shared responsibilities in the operation of the property
    • Stability & security
    • Centralized responsibility for community property & amenities.

    • Cons
    • Loss of control
    • Financial hardships/special assessments
    • Law suits
    • Limited freedom
    • Undesirable neighbors
    • Mismanagement
  6. Define unit for each type of association.
    • Condo: Air space including wall, ceiling and floor coverings or finishes, cabinets and appliances. Member receives a deed to the unit.
    • Coop: Proprietary lease or occupancy agreement for exclusive use of a specific unit. Corporation owns all units members receives shares & right to occupy under a lease.
    • HOA: Lot, house, villa or townhouse. Member receive a deed.
    • Timeshare: Ownership and use of a specific unit, facility, room, boat, ship, or vehicle for a set period of time. Purchaser acquires title to a specific residence for same period every year. (They are not responsible for anything in the unit)
    • Mobile Home: Mobile home placed on leased or purchased lot from a mobile home lot or subdivision owner. Park owner owns the title to park, member owns title to the unit.
  7. Explain the differences among common property, limited common property and association property.
    • Common property: Property that is jointly owned by all members through community association (real estate, pool)
    • Limited Common Property: Property limited to the use by one or more members (rooftop pool, balcony, storage lockers)
    • Association property: Property owned by the entity (corporation) (furniture, copy machine)
  8. What is appurtenances? And list five appurtenances likely to be inherent to a member of an association.
    • Accessory rights inherent to a member of an association, such as:
    • Rights of use of common areas and access to easments, protect and enhance the value of the commiunity and it's assets. by members and guests.
    • Right to run for association board.
    • Right to vote.
    • Right to attend meetings.
    • Provisions for exclusive use of common areas as provided in the documents.
    • Access to any available licensed cable tv.
  9. How are coops and mobile home associations different from condos, time share & HOAs?
    Coops & Mobile homes lease all others own
  10. What are the key components of a legally binding agreement for a community association?
  11. The association is responsible for:
    • Maintaining the common property.
    • Enforcing the governing documents.
    • Managing the business affairs of the community.
    • Creating a harmonious community.
  12. What are three powers generally granted to corporations?
  13. What is CIRA?
    Common Interest Realty Associations
  14. Requirements for a Community Association.
    • Membership is mandatory
    • Members have a right to vote
    • Assessments, if unpaid, can be put on the property as a lien.