Turnover: An Important But Often Misunderstood Event for Homeowners’ Associations

One of the most critical events a homeowners’ association will face is the “transition” or “turnover” of the association from the developer of the community to the homeowners of the community. However, many homeowners and purchasers may be unaware of what the process of turnover entails, or even what turnover of the community really means. “Transition” or “turnover” of the association means that homeowners in the community are entitled to elect at least a majority of the members of the board of directors of the homeowners’ association.    Read the article………..