In this incredible housing market, several new common interest communities have been created to provide for the construction of new homes. On or before declarant control is terminated in these communities, CCIOA requires that an election be conducted to ensure majority control of the board by the owners. Within 60 days following that election, the declarant must deliver all property of the association/owners held by or controlled by it. A summary of those items are:
It is critical for the new owner controlled board to timely possess the items above to effectively govern the association. The board should immediately make contact with the declarant to ensure that all requisite items are timely delivered to avoid any disruption in conducting association related business.
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