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Documents for Owners and Residents
Purpose of a Community Association The primary purpose of the McLean Gardens Condominium Association is to provide for the governance, business, and communal aspects of the association. These goals are achieved by administering, maintaining, and enhancing a residential real estate development through the establishment of a system of property rights, binding covenants and restrictions, and rules and regulations.
Sources of Legal Obligations for a Community Association: A community association derives its legal obligations from several sources. Read more.
- Federal, state, and local statutes, regulations and case law (court decisions)
- Legal documents unique to the community association that bind the association and its owners, e.g., Declaration, Bylaws, Policy Resolutions etc.
- Lender requirements – for example, requirements set by secondary mortgage institutions e.g., Fannie Mae, VA FHA
- Standards set by professional bodies – for example, auditing standards set by the American Institute of Certified Public Accountants (AICPA).
Governing Documents The covenants, conditions, and restrictions (CC&Rs) are the governing documents that dictate how the homeowners association operates and what rules the owners – and their tenants and guests – must obey.
These legal documents might also be called the bylaws, the master deed, the house rules or another name. These documents and rules are legally enforceable by the homeowners association, unless a specific provision conflicts with federal, state, or local laws.
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