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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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