- First Aid for Property Owners Association
- August 5, 2016 | Authors: Margaret Shea Burnham; Erin Sloan Cowan
- Law Firm: Nexsen Pruet, LLC - Greensboro Office
- In December 2015, Margaret Burnham and Erin Cowan presented a course entitled "First Aid for POAs: Tips for preventing and repairing mistakes in planned communities." It begins:
This course is designed to teach tips about handling issues that arise when dealing with a property owners association (“POA”) (sometimes also referred to as a homeowners association or “HOA”) in the residential context.
The topics address a variety of concerns that impact developers as declarants (under “declarations” of restrictive covenants), successor declarants, POA boards (while under declarant control), lenders and homeowners in the context of problems arising in planned communities, whether the planned community is a subdivision or a condominium. During and after the recession, many planned community developments failed mid-development, where the development needed “first aid” to bring the development to a position it could be successfully sold in its entirety, as platted lots or as condominium units.
This course looks at the “remedies” available by statute or case law to work through these types of problems in planned communities. Except where otherwise provided, examples in this manuscript will be taken from the North Carolina Planned Community Act (“PCA”) as opposed to the North Carolina Condominium Act.