Lorraine Lakes Master Association, Inc.

Key facts from Lorraine Lakes Master Association, Inc.'s documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Townhomes (fee simple, zero lot line cluster housing, not condominium) (Section 2 of Townhome Declaration: 'This)

Governing law

Florida Statutes Chapters 617 and 720 (Homeowners' Association Act) (Section 1.2 of Townhome Declaration: 'or)

Assessments & dues

Not set in declaration; determined by annual budget adopted by Association (Townhome Declaration, Section 4.1(A): 'L)

Special assessments

Allowed for expenditures not provided in annual budget (Townhome Declaration, Section 4.1(B))

Collections & liens

Assessments are a continuing lien on the Lot; lien perfected by recording Claim of Lien; foreclosure in same manner as Section 720.3085 Florida Statutes; lien subordinate to first mortgages recorded before Claim of Lien (Townhome Declaration, Sections 4.4, 4.5,)

Reserves & fees

Resale capital contribution may be levied; exemptions listed in Master Amendment 2021 Section 9.16 (e.g., transfers to initial owner, certain family transfers, mortgage foreclosure) (Master Amendment 2021, Section 9.16)

Leasing & rentals

Yes, with restrictions (Townhome Amendment 2022, Section 12.4)

Use restrictions

Implicit; community described as 'residential community of Townhomes' (Townhome Declaration, Preamble: 'create )

Voting & meetings

Two classes: Class A – one vote per Lot per Owner (excluding Declarant while Class B exists); Class B – Declarant has 100 votes plus one vote for each Class A vote in aggregate until termination (Townhome Declaration, Section 3.1(A) and)

Amendments

Declarant may unilaterally amend the Declaration while it holds any property for sale in ordinary course of business (Master Declaration Section 17.10; Townhome Declaration Section 15.3). After that, amendment requires owner vote as per Cha (Master Amendment 2020 recitals; Townhome)

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