Lloyds of London

When a homeowner association is either in danger of losing their insurance coverage or their insurance coverage is canceled, Lloyds of London is always a point of discussion.  Lloyds is often referred to as the insurance company of last resort when you cannot obtain coverage in the primary insurance market.  So what is Lloyds of…

Easements  

Easements, being very common in many real estate matters, come up from time to time with homeowner associations. A recorded land easement is a legally binding instrument which permits or restricts land use by the land owner and other parties who do not own the land in question.  Easements that are restrictive can limit particular…

Association by the Numbers

Community associations are Big Business, consider the following:    More than 1.7 million volunteers serve as members of their community association board and another 400,000 participate as committee members. There are 230,000 annual association meetings with democratically conducted elections and another nearly 2.5 million board meetings during the year in which owners debate and shape…

Eminent Domain

Eminent domain is the power of the state over all property within the state, expressly the power to involuntarily or voluntarily purchase property for a public use and, in certain cases, private use.  The owner of appropriated land is entitled to compensation per the Fifth Amendment to the Constitution.  This compensation is generally defined as…

Short Sales and Deed in Lieu of Foreclosure

The troubling real estate market has left many HOA members with delinquent mortgages as well as delinquent association dues.  The topic and procedures for foreclosures could fill volumes.  Here we are going to discuss two options that owners are utilizing other than allowing their property to go into bank mortgage foreclosure, short sales and deed…

Committees 101

Committees are an essential part of a homeowners association.  Committees are a way to bring association members together with similar objectives and relevant expertise who may otherwise not have a method to gather information and coordinate actions.   Two of the main advantages of a committee are the broad prospectives that are brought to the…

Yard or Patio of the Month

Much too often we focus on the members who have gone outside the governing documents with regard to architectural or landscaping issues.  Recognizing members who go beyond the requirements in an overall positive way can be a powerful tool in how a community looks and how members act. If it be recognizing entire yards in…