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Homeowners` Association

An association with annual dues collected from residents to insure enforcement of any covenants or restrictions that apply to the properties covered. For example, the Homeowner`s Association could legally cause a homeowner to take care of their yard as required by a legal covenant signed as a part of closing. Homeowner`s Association fees also cover maintaining common areas, and in some cases may be either voluntary or mandatory.

See also:
  • Hazard Insurance
  • Home Inspection
  • Homeowners Insurance
  • Homeowners Warranty
  • Homeowners` Association
  • HUD

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