I understand what HOA’s do, and was first introduced to the term in a condo building (not mine). I understand in a condo building, or high rise, you’re all sharing one building and need to contribute to that building’s maintenance. But I don’t understand HOA’s in neighborhoods…when you live in your own house. Is it only certain neighborhoods? I know someone who lives on a nice street in a suburb and there’s no HOA. Who decides if there is one, and what do neighborhood HOA’s exist for? Are you allowed to opt out?
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It’s America we need an owner for property
If you and your neighbor don’t own it but have a right to use it (or more accurately can be billed for the maintenance of it), who owns it (often this it is referred to as a common element)?
The entity we call the HOA owns it.
All the perils flow from the concept. Someone has to own it.
If there is no other property separate from what you own that you can use and/or be billed for the maintenance of by virtue of owning your property, there is no HOA because there is no other property to be owned.
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