NEW DEVELOPMENT SERVICES
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Developer Transition. For new communities, transitioning from developer to homeowner control is especially important both short- and long-term for an association. At the outset, the developer controls the board and appoints all committees. As homes are sold, the developer gradually gives up control.
Records Transfer. As a developer sells the last of its properties and turns control of the association to an owner-controlled board, the new board needs the following documents from the developer:
- Governing Documents
- Architectural Records
- Construction Documents
- Insurance Policies
- Corporate Documents
- Financial Documents
- Vendor Contracts
- Warranties & Maintenance Manuals
Transition Services. We assist boards through the developer transition by (i) assisting with the election of new directors, (ii) ensuring the transfer of documents, (iii) reviewing requests for assessment bond releases and potential claims against the bonds, (iv) training new boards to make it easier for them to fulfill their duties as directors, and (v) reviewing and amending governing documents to tailor them to the new community.
For more information about our services, contact us.
Alison M. Greiner, Esq.
Professional Law Corporation