With 75.5 million Americans living in communities governed by homeowners associations (or HOAs) and 3,000 new HOAs expected to form in 2024, community associations are quickly becoming an important aspect of real estate transactions. An HOA is an organization that creates and enforces rules and regulations for the properties and residents of a given residential community. The regulations or guidelines governing the HOA community are called restrictive covenants and are outlined in a document called a Declaration of Covenants, Conditions, and Restrictions (CC&Rs). Read the article…………………………….
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