Formation
Most homeowners associations and condos are corporations formed by a real estate developer for the purpose of marketing, managing, and selling homes and lots in a residential subdivision. After reaching a certain threshold of sales, the developer relinquishes its control of the association to its members. Usually, the association is formed by filing certain documents in the public records of the state and county in which the association is situated. State oversight of homeowner associations is usually fairly minimal, but this trend is changing and associations are becoming increasingly regulated by the government.
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