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New rights accorded to Utah property-owners prior to HOA formation

By
Services for Real Estate Pros with Empire Pass Real Estate, a marketing group of Keller William

Utah House Bill 175 accords some new rights to Utah Homeowners who have purchased property in new subdivisions. Under current law, developers maintain control of the HOA and the development until, usually, about 70% of the lots/homes are sold.

This has been a problem in a few subdivisions as the developer has collected fees but not performed sufficient maintenance or has flat-out mis-used the funds.

Now, HB 175 allows property owners to examine the developer's accounting. The bill stops short of creating penalties for developers who don't fulfill their obligations but seems to be a step in the right direction.

This is good news for Utah property owners as we watch subdivision after subdivision enter receivership.

Thank you to the Park Record for this important update.

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