Rules and
Regulations
When any group of people, no
matter what size, share property, rules must be set down for its
use. These rules and their enforcement are essential to
preserve property values in the community.
When the developer initially
planned the community, a set of legal documents were prepared
which establish the community association, govern its operation,
and provide rules for use of all units within the community.
These legal documents are contained in your public offering
statement and consist of the following:
Articles of Incorporation:
Establish the association and its purpose, structure and powers.
By-Laws: Establish
rules for the operation of the association through the officers,
Board of Trustees, committees and membership meetings.
Master Deed and
Protective Covenants:
Detail each owner's property rights and the restrictions on use
of the property, as well as the rights and obligations in the
community association. The regulations are set up to protect
property values and maintain the appearance and integrity of the
community. From the time you take title to your new home, you
are legally bound to them. |