Condominium Ownership When unit owners buy into a co-owned property, e.g., a homeowners' association (HOA), condominium, or cooperative, they agree to abide by the association's legal documents. They also assign their right to make decisions on policies and procedures to the elected board of managers or trustees. The governing documents of the community association provide the authority to, and mandate the responsibilities of, the board of trustees or managers and also of the unit owners. The board is charged with operating the association, along with preserving the common elements and maintaining the property values. 36 CONDOMEDIA October 2022