|RE: help with HOAs and CC&Rs||<– Date –> <– Thread –>|
|From: David Heimann (heimannworld.std.com)|
|Date: Sun, 26 Feb 2006 13:31:02 -0800 (PST)|
Hello, See comments at ***. Regards, David Heimann JP Cohousing
Date: Fri, 24 Feb 2006 10:07:05 -0800 From: "Rob Sandelin" <floriferous [at] msn.com> Subject: RE: [C-L]_ help with HOAs and CC&Rs To: "'Cohousing-L'" <cohousing-l [at] cohousing.org> Message-ID: <BAY0-SMTP02D01C80BD615B63296817A3F30 [at] phx.gbl> Content-Type: text/plain; charset="iso-8859-1" Most CC&R's are designed from a boilerplate format which has already been approved by bankers. You do not want this document to be unsatisfactory to the lending institutions which will provide mortgages based on it. You do not have to invent this document, or create it, a competent attorney will do that for you.
*** Or use one from another cohousing community in your state, which is what we did at JP Cohousing. If there's no other cohousing community in your state, you can use a boilerplate form from your state's Communities Association (an association of condominium assocations). Be sure to use material from your own state, since condo (and coop) laws vary from state to state.
In fact, much of what is in this document will have no connection to your day to day life as a community, and this is OK. It is the legal framework that defines ownership. If you deviate from the standard document your changes should be reviewed by the attorneys banking connections and this will add to your legal bill. I recall some group in the past did not like all the "legal language" in their CC&R's and spent hours rewriting it. Their attorney charged by the hour and was unscrupulous in not advising them of their folly and so they ending up spending thousands and thousands of dollars in legal time only to not be able to attract any lenders because their document was so non-standard. After spending way too much money, in the end they ended up adopting a boiler plate CC&R's, by that time the not-so-smart folks in their group who had spearheaded this silliness had dropped out of the group because of.....high legal fees.... Rob Sandelin Naturalist, Writer The Environmental Science School http://www.nonprofitpages.com/nica/SVE.htm<((((º>`·..·`·..·`·...><((((º>...·`·..·`·...><((((º>.·`·..·`·...><((((º>.·`·..·`·...><((((º>·.. ><((((º> ·`·..·`·...·..·`><((((º>.·`·..·`·...><((((º>.·`·..·`·...><((((º>..·`·..·`·.. .><((((º>·.. ·`·..·`·....·`·..·`·...><((((º>
help with HOAs and CC&Rs karen jacobsen, February 23 2006
- Re: help with HOAs and CC&Rs OCCNG11, February 23 2006
- RE: help with HOAs and CC&Rs David Heimann, February 26 2006
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