Does a Colorado HOA and/or the members of its board owe fiduciary duties to the general members?

Does a Colorado homeowners’ association and/or the members of its board of directors owe fiduciary duties to the general members? It’s a simple question with a somewhat complicated answer.  To start with, a fiduciary is a person who is required to act for the benefit of another person on all matters within the scope of their relationship. A good example of a fiduciary is the trustee of a trust. Fiduciaries traditionally owe duties that include good faith, loyalty, due care and disclosure. Sometimes fiduciary duties are governed by statute.    Read the article……………..

Related Articles

How to Appeal to Generation Y?

It was bound to happen, the number of Generation Y homeowners (people born between 1978 and 1993) is beginning to

Avoid Misunderstandings about Dues

Across the country people are wondering how and where their HOA dues are being used. It’s a good question to

HOA vs. POA – What’s the Difference?

Homeowners associations (HOAs) and property owners associations (POAs) are easy to confuse because they are similar in nature. If you