Planned Communities - Resale of Units in a Planned Community Flashcards
1
Q
EXAM Note:
NOTE:
Under AZ law, a planned community is defined as a RE development that includes RE** owned by an association** (HOA). created for the purpose of managing, maintaining, or improving the property, and in which the owners of seperately owned parcels are mandatory members and required to pay association assessments. An HOA is req’d to be a noonprofit corp formed at the Arizona Corporation Commission.
A
