Common Area(s) owned by multiple property owners

[jrrodgers]

I an four other property owners own different percentages of property that intersect a Dentention Pond for water drainage. The county has offered to maintain this, but will require an easement. The offer is for each of the four property owners to assign this easement.

I would like to know if it is possible to not do an easement, but to assign the portion of property that each of the owners has that intersects this Detention pond to the HOA Home Owners Assoctiation, since it is a common area that benefits the entire subdivision and let the HOA assign the easement rather than each individual homeowner?

If this is possible how and what would I do to make this happen?

Thank you,

 

[stratus]

If all 4 of you wish to convey all of your ownership interest in the detention pond to the HOA then it would be relatively simple. You will need to go to a title company and have them prepare quit claim deeds to have the HOA put on your title. At that point the HOA would have ownership interest in the pond and thus rights to grant the easement, though you would all still need to sign off on it as individuals. The only way to remove yourselves completely from ownership would be to sell your interest to the HOA, and depending on the HOA bylaws that may get a little hairy, eg, first right of refusal, valuation (appraisal) guidelines and so on. Even if you just do a quit claim, you will still want to review the HOA bylaws to make sure their procedures are adhered to regarding transfer of ownership rights. There may still exist a first right of refusal clause and you will most likely need a majority or 80% vote from the HOA in favor of granting an easement.

If all 4 of you want to give a specific portion/percentage to the HOA for the easement you will need to have stake/boundary surveys completed and the process will be more involved.