Lakeview at Stonecrest Townhome Association

Key facts from Lakeview at Stonecrest Townhome Association's documents

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

Community type

townhome association (not a condominium, not under Georgia Property Owners Association Act) (Article I: 'This document does not, and )

Legal name

Lakeview at Stonecrest Townhome Association, Inc. (Article I: 'Declarant has established La)

Developer / declarant

Stonecrest Home Builders, Inc., a Georgia corporation (First paragraph of Declaration: 'made by)

Governing law

Georgia Condominium Act and Georgia Property Owners Association Act are explicitly NOT applicable; governed by the Declaration and Georgia corporate law for nonprofit corporations (Article I)

Assessments & dues

Board prepares annual budget; General Assessment allocated equally among Units (Section 8.1, 8.2(a))

Special assessments

Assessments to cover unanticipated Common Expenses or expenses exceeding budget (Definition in Article II; Section 8.2(b))

Collections & liens

Assessment, until paid, constitutes a lien on the title to the Unit which may be foreclosed in the same manner as a Mortgage under Georgia law (Definition of 'Assessment' in Article II)

Reserves & fees

Budget may include contribution to reserve funds; must include annual contribution for assets with useful life of 3+ years; amount based on Board's reasonable estimate (Section 8.1: 'The budget may include a c)

Pets

Not explicitly mentioned in provided text; no specific pet rules extracted; refer to Exhibit C (not provided) (N/A)

Leasing & rentals

Not explicitly addressed in provided text; no restrictions on leasing mentioned (N/A)

Parking & vehicles

Not explicitly detailed in provided text; Board may adopt administrative rules for parking (Section 5.2(a)(iv)) (Section 5.2(a)(iv) gives example of park)

Architectural approval

30 days after complete application; if no response, applicant can send notice, then 10 days more, then deemed approved (Section 4.3(b))

Home business

Not explicitly mentioned; Association may prohibit activities not normally associated with residential use (Section 5.4(b)(ii)) (Section 5.4(b)(ii))

Signs & flags

Not explicitly mentioned; only religious/holiday signs, decorations, and security signs referenced (N/A)

Maintenance

Association maintains roof, foundation, exterior portions of dwelling (Section 3.2(a)(i))

Insurance

Association bears deductible for Common Area; Owners bear deductible for Units (max $1,000) (Sections 7.4(f), 7.7(g))

Use restrictions

Units intended for single-family residential use (Definition of Unit)

Voting & meetings

Class A Members: one vote per Unit; Class B Member (Declarant): consent required for specified actions, appoints board during Developer Control Period (Section 6.2)

Amendments

Amendment requires vote of 2/3 of Class A members and consent of Declarant if rights affected (Section 20.2)

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