Covenants, Restrictions, and By-Laws…Oh, My! (Huntsville, Decatur: new home, neighborhood, to buy)

[macwell]

MORTGAGE FORECLOSURE SALE - Final Plat of Hampton Ridge, Phase 5



Alabama Legals
Publish Date: 08-13-2009
Newspaper: Huntsville Times
County: Madison
Heading: Legal


MORTGAGE FORECLOSURE SALE
Default having been made in the payment of the indebtedness secured by that certain mortgage executed by Brookhouse Investments, LLC to BancorpSouth Bank on June 16, 2006, said mortgage being recorded in the Office of the Judge of Probate of Madison County, Alabama in Document Number 20060616 000399340, re-recorded at Document Number 20070606000403590, and re-recorded at Document Number 20080718000466070, BancorpSouth Bank as mortgagee under and by virtue of the power of sale contained in said mortgage, will sell at public outcry to the highest bidder for cash, in front of the main entrance of the Courthouse at Madison County, Alabama, Birmingham Division, on September 3, 2009, during the legal hours of sale, the following described real estate, situated in Madison County, Alabama, to-wit:

All of the lands embraced by the Final Plat of Hampton Ridge, Phase 5, Huntsville, Alabama, recorded as Document No. 200810300 00682920, in the Office of the Judge of Probate of Madison County.

Less and Except: Lot 203, according to the Flat Plat of Hampton Ridge, Phase 5, recorded as Document No. 20081030000 0682920, in the Office of the Judge of Probate of Madison County, Alabama.

This sale is made for the purpose of paying the indebtedness secured by said mortgage, as well as the expenses of foreclosure. SUBJECT TO ad valorem taxes.SUBJECT TO any and all easements, restrictions, encumbrances or other interests of record.

c/o Karen G. Knowlton
NAJJAR DENABURG, P.C.
2125 Morris Avenue
Birmingham, AL 35203
(205) 250-8400
Attorney for Mortgagee
August 13, 20, 27, 2009

[ionlife]

Perhaps we can get Alabama to follow VA's lead on governing these issues. Thanks to a poster I have the following to share:

Virginia Community Associations in the Commonwealth of Virginia are governed by Virginia Statutes, more commonly known as the Condo Act for condominiums or the POA Act (Property Owners' Association Act) .
Additionally, the General Assembly established the Community Association Liaison in 2001 to serve as an information source on issues relating to the governance, administration and operation of common interest communities. The Community Association Liaison is allowed to give non-binding interpretations of laws or regulations governing such communities.

These Acts do not supercede, but rather suplement, your communities specific governing documents.

LIS > Code of Virginia

LIS > Code of Virginia

The Office of the Common Interest Community Ombudsman

[autobahn]

Originally Posted by dramamama

Perhaps we can get Alabama to follow VA's lead on governing these issues. Thanks to a poster I have the following to share:

Virginia Community Associations in the Commonwealth of Virginia are governed by Virginia Statutes, more commonly known as the Condo Act for condominiums or the POA Act (Property Owners' Association Act) .
Additionally, the General Assembly established the Community Association Liaison in 2001 to serve as an information source on issues relating to the governance, administration and operation of common interest communities. The Community Association Liaison is allowed to give non-binding interpretations of laws or regulations governing such communities.

These Acts do not supercede, but rather suplement, your communities specific governing documents.

LIS > Code of Virginia

LIS > Code of Virginia

The Office of the Common Interest Community Ombudsman

Wonder if we can get something like this enacted at the county or city level? I would love to have the right to read the covenants for 72 hours and have them provided to me at closing and sign that I have read them. This is what we had to do in Maryland before we could close on our house.

[Charles]

Originally Posted by autobahn

Wonder if we can get something like this enacted at the county or city level? I would love to have the right to read the covenants for 72 hours and have them provided to me at closing and sign that I have read them. This is what we had to do in Maryland before we could close on our house.

Would it worth it (or is it possible) to find an experienced lawyer who is familar with the different communities' CC&Rs, and HOAs, etc to explain in plain English what you are signing? Personally, I have a hard time reading a lot of that stuff and even if I did spend enough time to understand it, I would want to know those documents' meanings relative to other those of other communities.

It might be worth the money for a lawyer to tell me "These CC&Rs have a lot of loopholes compared with others in this community especially this one....."

[DvlsAdvc8]

This seems like an area of value you could get out of your Realtor (hint hint, pay attention Realtors). You don't have to be a lawyer to understand this stuff, but it does take time.

[ionlife]

the c&r docs we had in VA were long, but they weren't difficult to understand. The biggest problem we had with them was some vague writing regarding the architectural guidelines--but that was to allow for flexibility. Any rate, we didn't need a lawyer to understand them. And we did read and sign them before we closed on the house. I'm still surprised that signing the closing statement with the HOA dues line on it meant we agreed to the terms of the documents. But that's the way it's done here.

At least I know now it wasn't me-or for lack of trying-it's the way it's set up.

[DvlsAdvc8]

Your C&R's in VA didn't have a catch-all line giving the developer control until the development was complete or a certain percent complete? Ours did. I'm pretty sure that's the standard practice there as well.

So what would be different? Is it that you never read the C&R's here? What would you have done differently, simply avoid buying in a new development?

[ionlife]

Originally Posted by DvlsAdvc8

Your C&R's in VA didn't have a catch-all line giving the developer control until the development was complete or a certain percent complete? Ours did. I'm pretty sure that's the standard practice there as well.

So what would be different? Is it that you never read the C&R's here? What would you have done differently, simply avoid buying in a new development?

We had three options in our C&R--one was for the declarant to surrender rights in writing. I believed, based on my experience in NoVA that he would. The other two options were to wait till full build out (when will that happen?) and till 10 years after the date of the doc was written and notarized. The date of the doc was 2006--we have SEVEN more years according to that date. Oh, the build out date is one year after build out....

very convoluted... and yes... as I have stated, I HAVE READ THE DOCS PRIOR TO CLOSING AND THE DOCS DID NOT CLEARLY STATE THAT THE DECLARANT COULD SELL AMENITIES. Also THERE WERE NO BYLAWS POSTED WHEN I CHECKED THE WEBSITE.

Would I have walked from a house I NEEDED at time of closing, or even 72 hours prior to closing, when I had to SETTLE MY FAMILY BEFORE SCHOOL STARTED? No. I had NO CHOICE AT THAT POINT OTHER THAN STARTING AGAIN.

And that was not an option.

I believe the developers in this area count on that being a problem for us.

[ionlife]

Originally Posted by DvlsAdvc8

Your C&R's in VA didn't have a catch-all line giving the developer control until the development was complete or a certain percent complete? Ours did. I'm pretty sure that's the standard practice there as well.

So what would be different? Is it that you never read the C&R's here? What would you have done differently, simply avoid buying in a new development?

I would have tried more stringently to avoid NEW DEVELOPMENTS in this area had I known the declarants of new subs could use HOA funds as ongoing income streams. However, there weren't many choices at the time we were looking for houses. Now there are more options. And TONS OF SHORT SALES. But whatever, we are happy in our new home in general. However--wouldn't it be a win win for the buyers and builders if there were a 72 hour read through? That way, the builder could just say, hey, you read the docs at FULL DISCLOSURE and signed off AT FULL DISCLOSURE. that way the builder is covered as well as the homebuyer.

The legislation regarding this issue should be changed in the state of AL.

KNOWING what we are signing for is a big deal.

And you know what? I just dealt with my developer's reps today--each lying in front of the each other to save face. Quite bloody hilarious to catch them in their lies while they stood in front of each other.

Too sad. Is it any wonder we don't trust them? I myself have begun to play their game.... at least if it is to my advantage.

[ionlife]

But the municipal gov'ts are not going to step in and change any local laws:--must go to the state level at least to see change occur.