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The process by which control of an association is transferred to homeowners is known as "Transition." This term specifically refers to the phase in community associations, particularly in homeowners associations (HOAs), when authority and governance shift from the developer or builder to the homeowners themselves.

During the transition process, homeowners gain control over the board of directors and the decision-making regarding the management and operation of the community. This transition is a critical step in empowering residents to shape their own living environment and is often marked by formal meetings, assessments of finances, and ensuring that community documents and governance are in compliance with the homeowners’ interests.

The other terms such as turnover, takeover, and transformation do not accurately capture this specific transfer of control and ownership. "Turnover" could suggest a change in personnel or management rather than a transfer of control. "Takeover" implies a more aggressive or competitive acquisition of control, which is not a standard term used in the context of community management. Lastly, "transformation" suggests a fundamental change in structure or purpose, but not necessarily a transfer of control in the same manner as transition does. Therefore, "Transition" is the precise term for this important process in community management.