I’ve owned my North Carolina townhouse since 2023 — but now my HOA is charging me $13K for hailstorm damage that happened 2 years before I bought. What are my legal options?

When buying a home within an HOA, you're responsible for costs, including any special assessments imposed after you move in, even if the damage occurred before your purchase. Homeowners insurance may cover these costs if you have loss assessment coverage, but if not, you could be left paying out of pocket or negotiating a payment plan with the HOA.

Read More: MSN Moneywise

Editors Note: When owning a home in a planned community, even though the association is responsible for certain maintenance duties, other issues, such as storm damage, may fall on the homeowner. In these communities, homeowners typically carry their own insurance and are responsible for making repairs related to covered perils and/or items not designated as the association’s responsibility. Additionally, homeowners may be responsible for costs like special assessments imposed after they move in, even if the damage occurred before their purchase. It’s important to check your covenants and policies carefully, particularly to understand your maintenance responsibilities and to see if you have loss assessment coverage, which may help cover the costs, in some instances. While this may seem onerous, when compared to buying a single-family home, the same or similar risks and responsibilities generally exist in both situations.