Association Dwelling: A Forensic Look

By Bess Caldwell

This is a narrative guide that takes current and prospective homeowners/investors by the hand, helping them understand the sometimes complex concept of association dwellings. This easy-to-understand guide will introduce concepts that may be foreign and perhaps a little intimidating and will plant a seed of understanding. That seed will be nurtured, allowing it to take root and mature. Upon maturation of the seed, the homeowner/investor will come away with clarity and understanding that he or she can easily relate to.

• Language: English
• Publisher: iUniverse
• Release date: Apr 29, 2017
• ISBN: 9781491795989

Bess Caldwell

Bess Caldwell, a graduate of the prestigious University of Southern California, received a nonrestrictive, administrative service credential for education. She also received a credential for community college instructor. In addition to credentials in education, Bess also holds degrees in multiple languages. Her professional experiences also include a license in real estate, where she was awarded top honors. She also brings to the table experience income tax preparation, management, and tax preparation instructorship.

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Copyright © 2017 Bess Caldwell.

All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the author except in the case of brief quotations embodied in critical articles and reviews.

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ISBN: 978-1-4917-9597-2 (sc)

ISBN: 978-1-4917-9598-9 (e)

Library of Congress Control Number: 2016906887

iUniverse rev. date: 04/27/2017

Contents

Foreword

The Common Interest Development: a look under the hood; Impact of Davis-Stirling Act impact on the non-profit Homeowner’s Association

Homeowner’s Association Dwelling: Secretary of State filing; profit or non-profit

Profit or Non-profit: automatic or stick; governing and management impact

Destination Point: GPS: fiscal budget planning

Defensive Stance: kicking the tires; Assessing Investment Valuation

Tax Reporting: fiscal millage; Year-end reporting of Association performance

Injunctive Relief: penalty: Filing a grievance against the Homeowner’s Association

Investment Outlook: Test drive; evaluating long-term success of non-profit Association concept

Adjustable Association

Glossary of Terms

Closing

Resources

Front.jpg

Foreword

Congratulations! As a first time homeowner, you have reached the decision to invest in a nonprofit Association lifestyle. You chose a two bedroom, two- bath unit. Other amenities consist of two parking spaces, heated pool, sauna area, gym, barbecue area, and in-house maintenance. You are completely sold! However, have you not yet glanced at any of the legal entities associated with a nonprofit investment lifestyle? You know, the Association Bylaws, CC&R’S and Davis-Stirling Act, city Ordinances, Office of the Secretary of State, Department of Consumer Affairs, Internal Revenue Services, as well as the non-profit status? Was that a yes or a no reply? Fantastic! Let’s take a closer look!

1lookunderhood.jpg

The Common Interest Development

A look under the hood

Location is good the asking price is within budget and the amenities incredible! But, why does the agent continually reference the Davis-Stirling Enactment? It would appear it is as important as the property deed. Perhaps, this is no ordinary real estate purchase. Let’s give this Enactment a more detailed look".

As an investor, are you capable of determining whether or not the non-profit Association operational decisions are in sink with California State standards, or are unregulated governance and maintenance practices the reality? There is a defined legislative process that is inseparable from a nonprofit Association investment, and Davis-Stirlings is that legislative corner stone, the engine driving this regulatory process. This enactment represents the overarching legislative strategy for assessing and maintaining non-profit Association valuation. The narrative examines the legislative nuts and bolts of Davis-Stirling, and their consequential impact upon Association valuation from eight perspectives. It is the steadfast compliance of these state mandates that promote overall investment valuation. No other competing infrastructure or imposed practices can legally redefine this state