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Purchase land owned by my own HOA?

I live in a small HOA, 50 homes on a cul de sac. The HOA owns a strip of land 50 feet wide behind all the homes on one side of the street. It’s a buffer zone between us and the neighborhood one over.

No one is really interested in the HOA- the board is me and one other guy. The only shared space is the entry to the neighborhood and some street lights. Very minimal maintenance.

I would like to explore buying this land behind my own home. But it feels like a conflict of interest- if the HOA owns it and I’m co-president, can I just sell it to myself for $1?

submitted by /u/bondsman333
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1vuzuhb/purchase_land_owned_by_my_own_hoa/
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