Ibsen Estates

Key facts from Ibsen Estates's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Article 2, Section 2: Submission of Prop)

Legal name

THE SHEFFIELDS

Developer / declarant

IBSEN ESTATES (Signature block; also definition Section)

Governing law

Arizona Condominium Act, A.R.S. 33-1201 et seq. (Article 1, Section 1 (General Definition)

Assessments & dues

Not set; determined by Board budget each fiscal year (Section 7 (Common Expense Assessment))

Collections & liens

Assessment Lien subordinate to First Mortgage; foreclosure sale or deed in lieu clears liens; delinquent amounts may be reallocated to all Units as Common Expense (Section 7B)

Reserves & fees

Common Expenses include allocations to reserves (Definition (J) Article 1)

Leasing & rentals

Leasing of Units is not prohibited; Section 9.1(x) lists leasing as a material provision requiring mortgagee consent for amendment, implying leasing is permitted (Section 9.1(x))

Architectural approval

Architectural Committee regulates external design, appearance, use and maintenance; structural additions, alterations, improvements or modifications of exterior color/texture require prior written approval of the owner of the Adjacent Unit (Sections 6.3 and 4.3)

Maintenance

Association duties determined jointly by Unit Owners; each Unit Owner maintains his Unit and allocated Limited Common Elements at his own expense; if Association fails to maintain Common Elements, each Unit Owner must maintain Common Elemen (Sections 5, 5.1)

Insurance

Each Purchaser shall maintain fire, casualty and liability insurance on his Unit at full replacement value with carrier rated B+ or better, and provide liability coverage so that each Purchaser and owner of Adjacent Unit jointly have not le (Section 8)

Use restrictions

Each Unit and Limited Common Elements shall be used exclusively for residential use by a Single Family (Section 4)

Voting & meetings

Each Unit has one vote (Section 2.3: 'the votes in the Associati)

Amendments

Unanimous consent of Unit Owners (100% of votes) required to amend Declaration, except Declarant may amend during Period of Declarant Control for compliance with law or correction of errors without adverse effect on Unit Owners (Section 10.4(A), (D), (E))

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