Homeowners Associations (HOA)
Procedures for requesting a covenant compliance investigation:
The Val Verde HOA is a mandatory association created by the developers of the subdivision and the City of La Vista. Val Verde has an active homeowner’s association which collects annual assessments from each Lot. The Association’s elected officers enforce the restrictive covenants that were established when the subdivision was platted.
Val Verde Homeowners Association
Covenants, Conditions, & Restrictions (CC&Rs)
The reason why communities adopt rules for residents and enforce them through an HOA is to maintain a general uniformity among close-knit properties, typically neighborhoods. These rules are meant to keep the neighborhood attractive and well-maintained, but also to help maintain property values. For example, an HOA may dictate what colors your house and roofs may be, vehicle parking, trash containers, fences and accessory structures to name a few.
In addition to enforcing rules, HOAs also manage a fund to pay for communal resources, such as a entry way landscaping and signage. Homeowners typically pay dues that keep this fund replenished, some of which is put into a reserve account for emergencies and large-scale projects.Covenants
Covenants, conditions, and restrictions (also called "CC&Rs") are used by many "common interest" developments to regulate the use, appearance, and maintenance of property. CC&Rs, most commonly drafted and enforced through homeowners' associations (HOAs), often restrict what homeowners can do on their property. In the context of residential neighborhoods, a "covenant" is rule that governs the use of real property, also referring to an agreement to abide by these rules. Legally, a properly recorded covenant (technically, a "restrictive deed covenant") is binding and enforceable.
Covenants are most often used by planned developments to ensure a certain level of order and uniformity. The standards enforced through covenants often help the homes in the neighborhood retain their value because they tend to look much nicer and better maintained. Homeowners often welcome these standards since they typically address things that impact quality of life.
Many home buyers fail to take the time to read the CC&Rs that come with the property. They are so pleased with the house that they sign a purchase agreement without realizing that existing CC&Rs may prevent them from keeping their motor home, boat or truck on the property, or painting the house purple. Often, title companies will not have copies of the CC&Rs affecting the property until the day of closing, and they are often overlooked at that point. However, CC&Rs are binding upon the purchaser, and the purchaser will become subject to them, whether or not they have been reviewed, read, or understood. The general rule of "constructive notice" applies in these cases. No real estate contract should be signed until a purchaser has reviewed all the CC&Rs (and zoning laws) affecting the property.