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Do homeowner associations need to inform you that you are not accepted?
Wiki User
∙ 11y ago
Read your governing documents to verify that the association has the power to accept or reject ownership of the real estate covered by the association.
As well, the association may not have power to reject potential tenants of an owner's unit: screening tenants is the responsibility of the unit owner.
Generally, when you buy real estate covered by an association, part of your purchase covers the real estate assets that you own in common with all other owners. This means that your acceptance is automatic. This also means that you pay assessments for the maintenance, preservation and protection of these communal assets.
Best practices dictate that you contact the association board or property manager, so that you receive all the appropriate documentation about your real estate purchase.
(Usually, co-op boards -- that sell shares in the co-operative and give you a proprietary lease to the unit that you will occupy, notify a prospective buyer of not being accepted. Before you buy into a co-operative building, the board must approve your purchase.)
Wiki User
∙ 11y ago
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