Under the Davis-Stirling Act in California, a condominium HOA has the authority to levy monthly assessments on unit owners. What are these assessments used for?
Correct Answer
A) To fund the maintenance, repair, and operation of common areas and association services
Under the Davis-Stirling Act (Civil Code §5600 et seq.), HOA assessments fund the maintenance, repair, and operation of common areas (lobbies, pools, landscaping, roofs, elevators) and association services (management, insurance, reserves, administration). Each owner is obligated to pay their share.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A conditional use permit (also called a special use permit) allows a land use that is not automatically permitted by zoning but may be allowed under certain conditions. The use must be compatible with the surrounding area.
Deed restrictions are limitations placed in a deed that control how a property may be used by the current and future owners. They are a form of private land use control that runs with the land.
An easement is a legal right to use another person's land for a specific purpose without owning it. It is a nonpossessory interest in real property that typically runs with the land.
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