Posts tagged Fiduciary Duties of Directors
Know the Duties and Responsibilities of Your HOA Board

We all have what we like to think is a general understanding of the basic elements of Homeowners’ Association—there is a president, a board, and a set of rules that these nice people are entrusted to enforce. And the cursory understanding of these elements of an association are perfectly fine, until something happens. Upon the formation of a dispute between a homeowner and a homeowner's association, these seemingly innocuous details will suddenly be anything but.

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The Fiduciary Duties of HOA Board Members

This article will help elucidate what the law requires of an association Board with respect to its obligations toward homeowners. There are three broad categories of fiduciary duties of association Boards that we will discuss: the duty of care, the duty of reasonable inquiry, and the duty of good faith. With each topic, we will first explain general concepts then delve into examples for clarification. These rights for homeowners derive from old English common law (meaning that this law has grown over time through court decisions), but today almost every state has codified these rights into state statutes.

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