Falcon Court Condominium

Key facts from Falcon Court Condominium's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Title)

Units / lots

276 (Paragraph 2(a))

Developer / declarant

Falcon GA Investments, LLC (Paragraph 1 - Definitions)

Governing law

Georgia Condominium Act, O.C.G.A. §§ 44-3-70, et seq. (Paragraph 1 - Definitions)

Assessments & dues

Board prepares budget and assessment at least 21 days before annual meeting; becomes effective unless disapproved by Majority vote (Paragraph 8(f))

Special assessments

Board may levy special assessment per Unit not exceeding 1/6 of annual assessment per fiscal year without Owner approval (except as provided in Paragraph 6(b) and 6(c)) (Paragraph 8(g))

Collections & liens

Assessments and charges are a lien on the Unit; Association may foreclose (Paragraph 8(c))

Reserves & fees

Board annually prepares capital reserve budget; contribution included in budget and assessment (Paragraph 8(h))

Pets

Generally recognized household pets only, maximum 2 per Unit (Paragraph 12(h)(i))

Leasing & rentals

Leasing is addressed in §14; details not fully provided, but table of contents indicates provisions including lease restrictions (§14 (Leasing – table of contents), §14(b)

Parking & vehicles

Vehicles must be parked in designated lined spaces; rules for assigned and unassigned spaces (Paragraph 12(i))

Architectural approval

All exterior changes, encroachments, etc. require prior written ACC approval (Paragraph 11)

Home business

Ancillary business activities allowed if not detectable, no increase in traffic, etc. (Paragraph 12(b))

Insurance

Deductible is a maintenance expense; no Owner assigned more than $5,000 for Act-required insurance per occurrence (Paragraph 9(e))

Use restrictions

Each Unit shall be used for residential purposes only (Paragraph 12(b))

Voting & meetings

One equally weighted vote per Unit (Paragraph 5)

Amendments

Amendments generally require consent of Owners and Mortgagees as provided in Act; Declarant may amend under certain conditions; §23 lists subsections for eligible mortgage holders, implied approval, amendments without vote, limitation on ac (§23 Amendments)

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