Homeowners Associations (HOA)

Governed by Chapter 720, F.S., an HOA (Homeowners Associations) is different from a Condo Association. In a Condo, you own the airspace. In an HOA neighborhood, you usually own the house and the dirt under it, but the Association manages the community standards.HOA is a Florida corporation responsible for the operation of a community or a mobile home subdivision. If you buy the house, you must join the HOA and pay the dues.While Homestead protects you from credit card debt, it does NOT protect you from the HOA. If you fail to pay your HOA assessments, the HOA can place a lien on your home and potentially foreclose on it, taking your house.Unlike a Condo (where you own a % of the pool), in an HOA, the Association corporation usually owns the common areas (the park, the clubhouse). The homeowners just have a right to use them.