Definition of an Owner's Association
An Owner’s Association provides a communal basis for preserving, maintaining, and enhancing homes and Property. All Owner’s Associations have three basic, defining characteristics:
Membership in the Owner’s Association is mandatory and automatic for all Property Owners.
Certain documents bind all Owners to be governed by the Owner’s Association.
Mandatory lien-based economic charges or assessments are levied on each Owner in order to operate and maintain the Owner’s Association.
The Value of an Association
The Cherokee Springs Owner’s Association provides value to its Owners by:
Managing common areas of the Property
Managing Property interests of Owners
Developing a sense of community through social activities and/or amenities
Enforcing the community’s covenants, conditions and regulations
The Authority of the Association