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By Tom Sopko – RRA Board President
“Homeowner’s associations (HOA) are formed by planned communities with single-family homes or multiple unit or condominiums. An HOA is typically established to make and enforce rules regarding the properties within the jurisdiction. Most HOAs are incorporated and are subject to state laws. The association has a board of directors that are elected to enforce and oversee the HOA governing documents.”*
* (http://www.investopedia.com/terms/h/hoa.asp?lgl=no-infinite)