ABOUT HOME OWNERS ASSOCIATIONS in WALDORF - Buyer's rights
under the Maryland Home Owners Association Act.
If you buy a home that is part of a Home Owners Association, you have the right to review the Bylaws and Covenants that govern the home owners in that association. Buyers have the right to receive the document prior to settlement and time to rescind the contract if the rules of the association are not acceptable.
EXAMPLE:
Notice of Buyers Right to Receive Documents Pursuant to the Maryland Homeowners Association Act
The Home Owners Association (HOA) document must provide a copy of the original by laws and covenants of the association. Some of the information that may be included would be:
- Is the lot located with a development
- Description of the monthly or annual fees
- Fees for the previous year.
- Description of any delinquent fees
- Identity of the management agent of the HOA
- Disclosure of any knowledge of any pending lawsuits against the HOA
- Description of any judgments or liens against the HOA
- Copy of the Articles of Incorporation for the HOA
- Any future obligations that may affect the purchaser.
- Rules and regulations to which the buyer would become obligated upon purchase.
Other rules and regulations pertaining to
(1) ARCHITECTURAL CHANGES, DESIGN, COLOR, LANDSCAPING, OR APPEARANCE;
(2) OCCUPANCY DENSITY;
(3) KIND, NUMBER, OR USE OF VEHICLES;
(4) RENTING, LEASING, MORTGAGING, OR CONVEYING PROPERTY;
(5) COMMERCIAL ACTIVITY; OR
(6) OTHER MATTERS.
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