Homeowners association
Overview
 
For a discussion of nonprofit, voluntary neighborhood advocacy groups, see neighborhood association
Neighborhood association
A neighborhood association is a group of residents or property owners who advocate for or organize activities within a neighborhood. An association may have elected leaders and voluntary dues....

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A homeowner association is a corporation formed by a real estate developer for the purpose of marketing, managing, and selling of homes and lots in a residential subdivision. It grants the developer privileged voting rights in governing the association, while allowing the developer to exit financial and legal responsibility of the organization, typically by transferring ownership of the association to the homeowners after selling off a predetermined number of lots.
 
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