Which document provides for transition of control of the community association from the developer to the owners?

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Multiple Choice

Which document provides for transition of control of the community association from the developer to the owners?

Explanation:
The transition of control from the developer to the owners is defined in the master deed. This foundational document creates the community, identifies the common areas, and, crucially, includes provisions that specify how and when the developer relinquishes control to the homeowners—often tied to a certain number of units sold or a specific date. It sets the mechanism for moving governance from a developer-controlled structure to an owner-elected board and outlines related responsibilities. Bylaws govern how the association runs on a day-to-day basis, including election procedures and meetings, but they don't usually establish the transition itself. Articles of incorporation create the nonprofit entity for the association, not the transition timeline. The reservation agreement is about reserving rights for development and does not address governance transitions.

The transition of control from the developer to the owners is defined in the master deed. This foundational document creates the community, identifies the common areas, and, crucially, includes provisions that specify how and when the developer relinquishes control to the homeowners—often tied to a certain number of units sold or a specific date. It sets the mechanism for moving governance from a developer-controlled structure to an owner-elected board and outlines related responsibilities.

Bylaws govern how the association runs on a day-to-day basis, including election procedures and meetings, but they don't usually establish the transition itself. Articles of incorporation create the nonprofit entity for the association, not the transition timeline. The reservation agreement is about reserving rights for development and does not address governance transitions.

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