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Forming Homeowners Association

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barlinzy

Junior Member
What is the name of your state? Missouri

I live in a 9 lot country subdivision, approximately 10 years old. According to the covenants an annual fee was to be paid by all lot owners for the maintenance of the private road. These fees were never collected by anyone. Now, a few of the neighbors would like to start a homeowners association and start collecting these fees. What is the best type of entity to form? A LLC? What are the steps in forming a homeowners association? Is some kind of insurance required for the association. We don't have any common ground. The road to 6 of the lots is an easement between the lots for access to the lots. Could someone sue any of the property owners if they had an accident on the road if it's marked "private drive"?
 


seniorjudge

Senior Member
Q: What is the best type of entity to form? A LLC? What are the steps in forming a homeowners association?

A: All of these answers can be found by hiring an excellent real estate attorney.



Q: Is some kind of insurance required for the association.

A: Lots and lots of liability insurance.



Q: Could someone sue any of the property owners if they had an accident on the road if it's marked "private drive"?

A: Yes.
 

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