Colorado hoa covenant enforcement4/15/2024 If set up correctly, the HOA and the covenants “run with the land,” meaning that they are binding on all owners subsequent to the original neighborhood developer. What are the covenants? The covenants (also known as a “declaration” or “covenants, conditions, and restrictions / CCRs”) is a set of obligations and restrictions on all properties within the HOA and is recorded in the real property records.The HOA will be run by a board of directors, who are usually homeowners that have volunteered for the job. That business generally includes managing finances, enforcing covenants, etc. What is an HOA? The HOA itself is a legal entity that is usually organized as a non-profit corporation and is charged with carrying on the HOA’s business.Many modern HOAs also own and/or maintain amenities for the neighborhood, such as pools and landscaping, and some HOAs are devoted exclusively to such purposes. This is why in modern subdivisions, you are unlikely to find houses painted lime green or junk cars in front yards. HOAs generally exist to mitigate these conflicts. Increasing urbanization and therefore housing density results in more and more conflicts over property use and appearance. In the distant past, more Americans lived in rural environments where their use (or misuse) of their property had little effect on their neighbors. What is the purpose of an HOA? HOAs are intended to maintain property values and promote peace and harmony within a neighborhood.Accordingly, this post is intended to answer common, basic questions about Colorado HOAs. However, many buyers, sellers, and others involved in home transactions do not truly appreciate what it means to be part of an HOA. New homes are especially likely to be part of an HOA – this was true for 59% of the 620,000 single family homes completed in 2014 in the United States. Every year, more and more Coloradoans live in homes that are part of a homeowners association (“HOA”), also known as a common interest community or community association.
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