What are the three formal documents required for a Homeowners Association (HOA) or condominium?

The correct response identifies the three essential formal documents necessary for a Homeowners Association (HOA) or condominium, which are the articles of incorporation, bylaws, and declarations of covenants and restrictions.

Articles of incorporation serve as the foundation for the legal existence of the HOA or condominium as a non-profit corporation. This document outlines the basic structure and governance of the organization and is filed with the state.

Bylaws function to detail the rules and regulations that govern the internal operations of the HOA or condominium, including procedures for meetings, voting rights of members, and the duties of officers. They are crucial for ensuring consistent management and operational stability.

Declarations of covenants and restrictions establish the specific rights, obligations, and limitations placed on property owners within the community. These documents typically cover aspects such as maintenance responsibilities, architectural guidelines, and use restrictions designed to preserve the property values and overall aesthetic of the neighborhood.

Together, these three documents provide a comprehensive framework for the governance, operation, and regulation of an HOA or condominium, ensuring that all members understand their rights and responsibilities within the community.