<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Candycane:
I live in a developement in which there is a HOA. I just found out they are not carrying HOA insurance. Where does that leave me? Also the association now owns the roads but wants to turn them over to the state, but still maintain them with the HOA dues. Is that legal?<HR></BLOCKQUOTE>
Without insurance, the indivdual property owners are exposed to liability that could possibly run into millions of dollars and result in liens being filed on every property and personal liability on the part of each owner of record. Ex: a kid playing on the grounds, trips, falls and is injured and suffer permanent injuries. A lawsuit is filed against the HOA. No insurance protection.
It is legal to dedicate private property to the government such as the roads and have the roads still maintained by the HOA. I see no reason to do this as once the road belongs to the State, the State should maintain, carry insurance etc.