The Sheffields

Key facts from The Sheffields's documents

Reflects the 2000 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium Regime under Arizona Condominium Act (Bylaws Art I Sec 1; Declaration Art 2)

Legal name

THE SHEFFIELDS HOMEOWNERS ASSOCIATION, INC.

Units / lots

2 (Units A and B) (Declaration Art 2: 'including 2 Units' a)

Governing law

Arizona Revised Statutes Sections 33-1201 et seq. (Bylaws Art I Sec 2; Declaration Art 1.1()

Assessments & dues

Board prepares annual budget. Total estimated common expenses assessed against each unit in proportion to its Common Expense Liability (50% per unit). Assessments payable monthly in advance or as Board determines. (Bylaws Art VI Sec 1,3; Declaration Art 7)

Collections & liens

Board may collect assessments, file liens and foreclosures. Any assessment lien is subordinate to first mortgages. Delinquent assessments extinguished at foreclosure may be reallocated and assessed to all Units as a common expense. (Bylaws Art IV Sec 3(c); Declaration Art )

Reserves & fees

Board may levy a late penalty charge on any Owner who fails to pay assessment on or before due date as set by Board. (Bylaws Art VI Sec 3)

Voting & meetings

One vote per unit. Voting limited to one owner per unit. Percentage vote equals unit's common element percentage. Majority of Owners = >50% of votes. Quorum: 20% of all votes. Majority of those present (in person or proxy) passes proposals. (Bylaws Art II Sec 1,2,3,4; Declaration 2)

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