RE: HOA renting unsold homes | <– Date –> <– Thread –> |
From: Casey Morrigan (cjmorrpacbell.net) | |
Date: Sat, 12 Oct 2002 17:04:04 -0600 (MDT) |
Marjorie - I am talking without any knowledge here butr offering my opinion anyway. I don't know where you are located - I don't know where the 785 area code is (My gosh - is that in California??) - but I'd doublecheck your state law and CCR's about whether the HOA can/is the best place to hold title, or whether your development corp. ought best to hang on to them until they are sold - . We did not have the issue that you describe, with unsold homes - all of ours were presold - but we waited to dissolve our LLC here in Sebastopol, CA, until we were sure the development phase was over. For a while the LLC coexisted along with the HOA. I know that doesn't answer your question, but just raises an issue. We recently had a long talk with our accountant about what an HOA can and can't do, so this issue is interesting to me. Ownership of homes didn't come up - wish it had. Our accountant isn't that familiar with cohousing, and so to me is not the ultimate opinion on any single issue, but she has provided some helpful guidance to us as we make our own decisions. For sure the tax implications of selling the homes should be explored with yours. Casey Morrigan Two Acre Wood, Sebastopol, CA -----Original Message----- From: cohousing-l-admin [at] cohousing.org [mailto:cohousing-l-admin [at] cohousing.org]On Behalf Of Marjorie Wholey Sent: Saturday, October 12, 2002 11:45 AM To: cohousing-L [at] cohousing.org Subject: [C-L]_HOA renting unsold homes As construction on our cohousing project nears completion, it looks like there may be some unsold homes. Title to the unsold homes will be transferred to the HOA. We are exploring the possibility of renting these homes until they are sold. Has any other group had the experience of the HOA owning and renting homes in contrast to individual owners renting a home in a cohousing community? ******************* Marjorie Wholey voice:(785)842-4913 email:mwholey [at] earthlink.net fax: 785-749-0497 _______________________________________________ Cohousing-L mailing list Cohousing-L [at] cohousing.org Unsubscribe and other info: http://www.communityforum.net/mailman/listinfo/cohousing-l _______________________________________________ Cohousing-L mailing list Cohousing-L [at] cohousing.org Unsubscribe and other info: http://www.communityforum.net/mailman/listinfo/cohousing-l
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HOA renting unsold homes Marjorie Wholey, October 12 2002
- RE: HOA renting unsold homes Casey Morrigan, October 12 2002
- Re: HOA renting unsold homes Kay Argyle, October 15 2002
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