North Creek Village

Transfer of HOA to Residents

Posted in: N Creek Village

If and when the HOA is transferred to residents of North Creek, does this mean the residents will be responsible for debts left unpaid by Genesis, such as the electric bill? 

  • Avatar
  • trudyl
  • Respected Neighbor
  • USA
  • 10 Posts
  • Respect-O-Meter: Respected Neighbor

I asked the Property Manager that question and the answer was that the homeowners will take on both the assets and liabilities of the HOA.  I am researching the issue now to see what the Missouri state laws are regarding the same.  We will discuss this topic along with many other concerns on Tuesday eveing.  I hope to see a good size group of homeowners at the meeting.  If you want to discuss this further, please feel free to contact me.  Remember, I do not represent the current HOA or it's officers and directors.  I am a homeowner just like you, concerned and hopeful.

 

Trudy

I asked the Property Manager that question and the answer was that the homeowners will take on both the assets and liabilities of the HOA.  I am researching the issue now to see what the Missouri state laws are regarding the same.  We will discuss this topic along with many other concerns on Tuesday eveing.  I hope to see a good size group of homeowners at the meeting.  If you want to discuss this further, please feel free to contact me.  Remember, I do not represent the current HOA or it's officers and directors.  I am a homeowner just like you, concerned and hopeful.

 

Trudy


Well, according to the property manager, there are no assets...otherwise the electricity wouldn't be continually turned off and the pool would be open on time and maintained.  I don't see how we residents can be made responsible for debts incurred by the developer prior to the transfer.  What a bite!

  • Avatar
  • trudyl
  • Respected Neighbor
  • USA
  • 10 Posts
  • Respect-O-Meter: Respected Neighbor

I pray I'm wrong!  Hopefully, the attorney can help us figure it all out.  I am still trying to review the HOA books but they won't even return my phone calls...go figure.  Hope to see you and all other homeowners Tuesday night.

Advertise Here!

Promote Your Business or Product for $10/mo

istockphoto_1682638-attention.jpg

For just $10/mo you can promote your business or product directly to nearby residents. Buy 12 months and save 50%!

Buynow