Title Insurance Trends by Vincent Hoss

Homeowners Associations HOA Terms

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Homeowners' Associations (HOA) and Property-Related Terms

1. HOA (Homeowners’ Association): A private organization in a residential community that sets and enforces rules for properties and residents. It often charges fees to maintain common areas and amenities.

2. HOA Dues: Monthly or annual fees that homeowners pay to cover the costs of maintaining shared community spaces and services managed by the HOA.

3. Covenants, Conditions, and Restrictions (CC&Rs): The rules established by an HOA that homeowners must follow, covering things like home appearance, property use, and behavior within the community.

4. PUD (Planned Unit Development): A type of real estate development where common areas are shared by homeowners and are maintained by a Homeowners' Association. It can include both residential and commercial units.

5. Special Assessment: A one-time charge imposed by an HOA for major repairs or improvements that exceed the regular budget.

6. Resale Certificate: A document provided by the HOA to a buyer during a property sale, detailing HOA fees, rules, and any unpaid dues on the property

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