Transition Study Guide for Homeowners’ Associations (Infographic)

When the construction of a condominium building has been completed and all amenities are in order, the next thing that will happen is the transition of the property from the developer to the homeowners’ association. Transition is a term that describes the process by which the developer of a common interest development passes ownership, governance, and responsibility to the members of the association.

The process of passing control is a crucial step for both parties, as the association has to confirm that the developer has met all of its obligations.  A Transition Study is needed and important for it guarantees the property is suitably maintained to preserve the physical plant and the organization’s ongoing financial stability. It will also help identify and document design and construction deficiencies on the property, focusing on the potential defects of the house or building.