homeowners' association

homeowners' association definition - business

homeowners' association

An organization of property owners that oversees the common interests of a neighborhood, planned development, or condominium. A homeowners' association generally collects dues, takes care of certain maintenance, and enforces any covenants or property restrictions. Also called community association.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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