property owners association & the board of directors
Property Owners Association (POA) is commonly a collection of people who own homes in a given area, formed for the purposes of improving or maintaining commonly shared amenities, usually pursuant to a restrictive covenant or declaration of restrictions. The continued ownership and care of the common areas, services provided, title, and management of the property is vested in a corporation which becomes the property owners association. Management of the association is handled by the owners through a corporate structure: the Board of Directors. Each subdivision property owner is, then, by a previously recorded document, a shareholder in that association concurrent with the purchase of the property, and is liable for a certain portion of the applicable common expenses. Our POA documents state that all assessments must be fixed at a uniform rate for all Lots.
We now have a very capable governing body, our Board of Directors, made up of five property owners of Pineapple Plantation who work together in unity to represent the owners. By statute, the officers and directors of a POA have a fiduciary duty to the property owners which requires them to: act in good faith; in the best interest of owners; exercise due care and diligence when acting for the community; act within the scope of their authority. It also imposes obligations of trust and confidence in favor of the association as a whole and a duty to afford due process and equal protection to each of its members.
As a purchaser of property in the Pineapple Plantation POA, you not only receive fee simple title to your property, but you also share enjoyment and use of all the common areas owned by the Association, and services provided, which add value to your property. You also receive an important privilege: membership in the POA. This membership gives you a voice in how your community will be administered, operated, and maintained. Get involved! Read all the notices sent to you by the Board, or your Management Company. Also attend the Board meetings, cast your vote when requested, and volunteer when asked. Let’s all take pride in our community, and do our share to contribute to one of the most family-friendly places in the country.
We now have a very capable governing body, our Board of Directors, made up of five property owners of Pineapple Plantation who work together in unity to represent the owners. By statute, the officers and directors of a POA have a fiduciary duty to the property owners which requires them to: act in good faith; in the best interest of owners; exercise due care and diligence when acting for the community; act within the scope of their authority. It also imposes obligations of trust and confidence in favor of the association as a whole and a duty to afford due process and equal protection to each of its members.
As a purchaser of property in the Pineapple Plantation POA, you not only receive fee simple title to your property, but you also share enjoyment and use of all the common areas owned by the Association, and services provided, which add value to your property. You also receive an important privilege: membership in the POA. This membership gives you a voice in how your community will be administered, operated, and maintained. Get involved! Read all the notices sent to you by the Board, or your Management Company. Also attend the Board meetings, cast your vote when requested, and volunteer when asked. Let’s all take pride in our community, and do our share to contribute to one of the most family-friendly places in the country.