Homeowner's Association Disclosure

 

1.        This is a disclosure summary for ____________________________________  (name of community).

2.        As Purchaser of Property in this community, you will be obligated to be a member of a homeowner’s association  and subject to restrictive covenants governing the use and occupancy of properties in this community.

3.        You will be obligated to pay assessments to the association and failure to pay these assessments could result in a lien on your property.

4.        Check either  (a) or (b) below:

a) ______ As an obligation of membership in the homeowner’s association,  you are obligation to pay rent or land use fees for recreational or other commonly used facilities.  The current obligation is  $__________ per year.

 b)______  This community has NO requirement to pay rent or land use fees for recreational or other commonly used facilities.

5.        The restrictive covenants  (check only one)  ______ can,  _______ cannot be amended without the approval of the association membership.

6.        As a prospective Purchaser, you should refer to the covenants and association governing documents for a detailed description of the rules summarized here.

________________________________________ ________________________________________
Date Purchaser

 

________________________________________
Purchaser

This disclosure must be supplied by the Seller