Creating a “homeowners’ association”, or “HOA”, allows builders and developers to establish a neighborhood with rules and regulations to preserve the desired concept of the area being built. An HOA also allows purchasers of property to know that their investment—their home—will be protected from changes that are neither anticipated nor welcomed. HOAs allow home owners to take charge of their neighborhoods and create a mechanism to insure that all property owners abide by a uniform set of rules and regulations.
Bousquet Holstein has a long history of representing HOAs in New York.
Establishing an HOA requires that our attorneys work with a Developer to understand the vision for the development, and then to translate that vision in to documentation that will be submitted to the appropriate State and local agencies for review and approval. Compliance with such laws as the Martin Act is critically important.
Preserving the nature of a neighborhood also helps to create a stable market. This benefits both the Developer, the builder and ultimately the homeowner. Our attorneys understand this, and have worked with HOAs after creation to: (1) Collect unpaid liens and assessments, (2) Enforce compliance with restrictive covenants, (3) Protect common property rights, (4) Expand amenities, (5) Review contracts, insurances and indemnifications for projects and (6) Train Boards of Directors and others in the responsibilities and requirements of New York law.