CMCA Study Guide 2026

The declaration ranks above the bylaws, rules, and resolutions in the hierarchy of governing documents.

Running with the land means the CC&Rs are attached to the property itself. Every future buyer is automatically bound by them at purchase regardless of whether they agreed to them personally.

Common areas are property owned or maintained by the association for the use and benefit of all residents, such as pools, clubhouses, parks, and roads within the community.

The board fulfills its fiduciary duties by acting in the best financial and operational interests of the association and its members. Establishing robust internal controls, such as financial policies, approval processes, and oversight mechanisms, is a critical way to meet this duty. These controls safeguard the association's assets, ensure accurate financial reporting, and prevent fraud or mismanagement, demonstrating responsible governance.

Courts have generally treated association assessments as consumer debts, so third-party collectors must comply with the FDCPA.

Reserve funds must be kept in a separate account segregated from operating funds to prevent misuse and ensure the money is available for its intended capital replacement purposes.