Understanding Key Documents in Your HOAPosted by Matthew Lindsay on
Understanding Key Documents in Your HOA - Alaska Management Group
Written by Cliff Goughnour
The governing documents for your association contain the rules, regulations, and all other contractual terms that you and the other members are bound by. If you purchase property that is part of an association, your membership is automatic upon purchase.
For this reason, Alaska State law requires that a Resale Certificate be provided to a prospective buyer prior to closing. In this way, a new owner is aware of what they are agreeing to, and can make a clear decision on whether the association's standards and restrictions meet their own.
The only problem with this scenario, is that most prospective buyers don’t take the time to fully read these…
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