Liberty House Lofts

Key facts from Liberty House Lofts's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Preamble)

Legal name

Liberty House Lofts Association, Inc. (Article I Section 1.01(c); Section 3.01)

Units / lots

24 total (20 residential + 4 commercial/retail/office/residential) (WHEREAS paragraph and Section 2.01)

Developer / declarant

The Liberty House, LP, an Alabama limited partnership (First paragraph of Declaration)

Governing law

Alabama Uniform Condominium Act of 1991, Code of Alabama 1975, §§ 35-8A-101 et seq. (Preamble; Article I Section 1.01(a))

Assessments & dues

Set by Board annually, not specified in dollar amount; based on budget approved by Unit Owners (Section 4.02(a); Section 4.04)

Special assessments

May be levied by Board if reserve fund insufficient for maintenance, repair, or replacement (Section 4.03)

Collections & liens

Association has a lien for delinquent assessments; may foreclose in same manner as real estate mortgages in Alabama; lien includes assessments, interest, late penalties, costs, attorneys' fees (Section 4.08)

Reserves & fees

Required; assessments must include adequate reserve fund for periodic maintenance, repair, replacement (Section 4.03)

Pets

Yes, but no more than 2 pets per Unit; no pot bellied pigs, venomous snakes, vicious animals; pets must not create nuisance; subject to Rules and Regulations (Section 6.02(l))

Leasing & rentals

Yes, entire residential Units may be leased; commercial Units may be leased; no individual rooms may be rented (Section 6.03; Section 6.04)

Parking & vehicles

At least one covered parking space per residential unit as Limited Common Element; parking areas restricted to passenger automobiles only (Section 2.04; Section 6.02(a))

Architectural approval

Yes, for any addition, alteration, improvement to Unit, Common Elements, or Limited Common Elements; also for any alteration to exterior of Unit (Section 5.02(b)(iv) and (v))

Home business

Allowed in residential Units if not detectable from outside, conforms to zoning, no vehicular/pedestrian traffic, consistent with residential character, not a nuisance (Section 6.02(k))

Insurance

Unit Owner responsible for separate insurance coverage for Unit and personal property (Section 8.01)

Use restrictions

Yes, except commercial Units on first level which may be used for commercial, retail, restaurant, office, or residential (Section 6.02(a))

Voting & meetings

Each Unit Owner entitled to votes per Exhibit D; simple majority unless otherwise required; 60% vote required for certain material structural alterations (Section 3.02 (Exhibit D); Section 3.04; )

Amendments

Developer may amend for unit boundary changes within owned units; additional units amendment requires only Developer's signature; otherwise amendment requires consent of affected owners and mortgagees as specified in Article XI (Section 2.02; Section 2.03; Article XI)

Amenities

Rooftop deck (Limited Common Element); potential fitness center; covered parking; storage units (Article I Section 1.01(m) (roof top deck)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.