Good Morning Mr. Esquire,Yes, its again in California. We have our HOA Board meeting this evening and I have one more question that I hope your able to respond to. One of the Board Members owns a home in the housing complex but does not reside in it. She lives outside the property and rents her house out. So... I was looking though our "HOA BIBLE" the CC&R and found under Membership: Qualifications: It states:"Each Owner of a Residential Lot which is subject to assessment, including Declarant, shall be a Member of the Association. Ownership of a Residential Lot or interest in it shall be the sole quialification for membership in the Association. Each Owner shall reamin a Member of the Association until his or her ownership or ownership interest in all Residential Lots in the Communtity ceases at which time his or her membership in the Association shall automatically cease. Persons or entities who hold an interest in a Residential Lot merely as security for performace of an obligation are not to be regarded as Member."The last sentence is the one in question. Does this mean she would or would not be considered a member?"Persons or entities who hold an interest in a Residential Lot merely as security for performace of an obligation are not to be regarded as Member."Please advise.Thank you XXXXX
State/Country relating to question: California
Thank you for your question and thank you kindly for requesting me further.My apologies but that is incorrect--a holder of a security may be someone who holds a lien or a mortgage over the property. Therefore the actual owner remains a member, it is just anyone holding an interest in the property without title is who not a member (think mortgage lender, lien holder, or a provided of a home equity line of credit).Good luck.Dimitry Esquire40940.7852163542
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