HOMEOWNER’S ASSOCIATIONS – Adds to existing law to provide for automatic dissolution of homeowner’s associations.

H 708 requires homeowner associations (HOAs) that have existed for 10 years or more to automatically dissolve unless members vote to continue. HOAs must hold a membership meeting before the dissolution date, with a majority vote needed to prevent dissolution. The bill mandates a plan for handling shared property and assets, which could transfer them to owners, a successor group, or local government. If members vote to continue, the HOA remains active until the next 10-year cycle, when another vote is required.