Non Profit Orgs - Home Owners Association (etc) ...you experience?
Please let me know your experiences if/when you have them.
Let's say my property is on a lake. Let's say the lake is run by a Home Owners Association (which is legally non profit). Let's now say that one of the 'big boys' wants to lease under our 'community' lake. This is shared property (hence the HOA).
We have a lawyer negotiating with bids and such (amazing how hard one will work to get best deal working on comission).
Being a Non-Profit organization, well ...that pretty much says it all. I'm 100% positive that our lawyer (and the 'Driller') will find a way to make us ALL happy, but I would like to know what sort of stories/info/experience others have had dealing with a similar scenerio.
(I do have my own ideas about this ...as in a board of directors - salaries - etc)
BTW congrats to Bossier! Lets hope the research remains to be on point and that DeSoto will far surpass the Red River side of Shale.
Let's say my property is on a lake. Let's say the lake is run by a Home Owners Association (which is legally non profit). Let's now say that one of the 'big boys' wants to lease under our 'community' lake. This is shared property (hence the HOA).
We have a lawyer negotiating with bids and such (amazing how hard one will work to get best deal working on comission).
Being a Non-Profit organization, well ...that pretty much says it all. I'm 100% positive that our lawyer (and the 'Driller') will find a way to make us ALL happy, but I would like to know what sort of stories/info/experience others have had dealing with a similar scenerio.
(I do have my own ideas about this ...as in a board of directors - salaries - etc)
BTW congrats to Bossier! Lets hope the research remains to be on point and that DeSoto will far surpass the Red River side of Shale.
Tags: Association, Home, Non-profit, Owners, lake, land, laws, property, shared
Views: 25
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Permalink Reply by Pam on -
I live in Dogwood subdivision in Bossier Parish. Our HOA BODs did a fine job negotiating for us as a group. Income from the community property owned by the HOA can't be distributed to the members, so there will be meetings and a vote on how to use any money if a lease is signed. If you care to check out www.dogwoodhoa.com, there's a lot of info.
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