General Question

AshlynM's avatar

What happens to HOA fees once an HOA is disbanded?

Asked by AshlynM (6556 points ) June 16th, 2011

I’m not asking how to disband an HOA, but what happens to the monthly fees?

Observing members: 0 Composing members: 0

2 Answers

BarnacleBill's avatar

I would venture a guess that they would need to go into an escrow account to pay the legal fees associated with disbanding a HOA, and any outstanding bills.

bkcunningham's avatar

Each state has set laws regarding HOAs. The rules for disbanding the HOA may be written in the HOA’s covenants, conditions and restrictions. I think just the process of disbanding, which must follow certain legal steps, would spell out what the fees will go toward and how certain community infrastructure or amenities that the fees paid for will be paid for in the future.

Answer this question

Login

or

Join

to answer.

This question is in the General Section. Responses must be helpful and on-topic.

Your answer will be saved while you login or join.

Have a question? Ask Fluther!

What do you know more about?
or
Knowledge Networking @ Fluther