Before purchasing a home in a community interest community, potential owners should review which document?

Reviewing the governing documents is essential for potential homeowners considering a purchase in a community interest community. These documents typically include the community's declarations, bylaws, and rules and regulations. They define the rights and responsibilities of both the homeowners and the homeowners' association (HOA), including governance, assessment obligations, property use restrictions, and procedures for meetings and decision-making.

Understanding these governing documents is crucial for prospective buyers, as they outline how the community operates, the standards for property maintenance, and the community’s overall vision. This insight helps buyers assess whether the community aligns with their expectations and lifestyle, as well as informing them of any financial obligations and rules they must follow upon purchase.

Though other documents, such as financial records or vendor contracts, may provide additional context about the community's management or financial health, they do not offer the comprehensive overview of the rights and responsibilities that the governing documents do. Therefore, reviewing the governing documents is the most critical step for potential owners in a community interest community.