HOA-Free Zones Targeted for Slavery

HOA-Free Zones Targeted - Have you read my Blog on this issue? Have you clicked on the attachments to read the numerous accumulating news reports of these efforts?

Question, what can we Free citizens Do, Here in the HOA-Free Zone, to ensure that we are never enslaved into the HOA Regime?

Anyone? Anyone have any ideas?


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Here is one idea, share

Here is one idea, share with me what you think will and won't work.....

Create a document titled "Covenents Codes & Restrictions" prohibiting this property (already in the HOA-Free zone) from ever being included in any "mandated association"

Will it work? Any suggestions for language and terms?

Regarding the 'freeing of

Regarding the 'freeing of slaves' already embroiled in the HOA quagmire
Here is a suggestion -

Eliminate the non-profit status from private communities & condo associations. Have the Board Members run their campaigns based on "credentials and experience", if a small salary were set for the positions, then even outsiders could be brought in, to attend to the business of the Association. It would make them accountable, in that they are now paid employees, and not some mysterious Board of Directors with all power.

If this solution were to be implemented, would it be something advocates should go after as "new legislation" or do you think it is something that could be implemented association by association by a vote of the members?

Share your thoughts

Interesting suggestion. But

Interesting suggestion. But if the non-profit status is removed, wouldn't the "for-profit" corporation be required to make the homeowner/members all shareholders? And file public financial statements? And then actually be held accountable?

Interesting . . .

Actually, I've been looking

Actually, I've been looking into this suggestion... here is what I've found....
I want to make it clear I am not a lawyer, nor a tax professional....

Not all corporations file "public financial statements" Only those who sell shares of their company on the open market, generally on the various exchanges NYSE, NASD etc. " S " corporations do nothing more than file a generic annual report that updates who their statutory agent is, address, BOD, etc., it does not require them to include any financials. But even " C " corporations who are not listed on the exchanges do not have to file "public financials" I believe U-Haul is such a corporation, see if you can locate any public financials on them.

The first concern I hear from individuals living in HOAs when I bring up this topic, is the "fear of paying taxes" on profits.... being a "for profit" corporation would subject the membership to taxes on profit. However, I have looked into this also, and made inquiries. If the corporation does not make a profit, then it pays no taxes. Additionally, if it were to finish the year "under budget" thereby implying a profit, there is one definite solution and another that I would have to investigate further as to the legality of it.

1) Return any excess to the membership, under the category of "Return of Capital" this is not taxable as a "capital gain" it is merely returning initial invested capital.

The 2nd (the one I'd have to investigate further)
2) Put 1/2 of the excess into the "reserve account" for future expenditures, and return the other half to the members as a "capital return"

I do think eliminating the non-profit status of HOAs would change the dynamic of how they operate, and that would become more accountable to the membership.

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