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Real Estate Glossary


- Homeowners' association

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Homeowners' association
A group that governs a modern subdivision or planned community. An association collects monthly fees from all owners to pay for maintenance of common areas, handle legal and safety issues, and enforce the covenants, conditions and restrictions set by the developer.

Related Terms
Bylaws
Maintenance fee
Special assessment
Realtor
Reserve fund
Homeowners' warranty
Realtist
Replacement reserve fund
Property tax deduction
Building and loan association
Hazard insurance
Federal National Mortgage Association
Fannie Mae
Escrow account
Homeowners' insurance
Government National Mortgage Association
American Society of Home Inspectors

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