Ivey Crest Condominium

Key facts from Ivey Crest Condominium's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Paragraph 1 name)

Developer / declarant

Centex Homes, a Nevada general partnership (Preamble, Paragraph 2(o))

Governing law

Georgia Condominium Act, O.C.G.A. § 44-3-70, et seq. (Paragraph 1, Paragraph 2(a))

Assessments & dues

assessed equally against all the Units (Paragraph 8(a))

Special assessments

Allowed; if total exceeds $200 per Unit per fiscal year, must be approved by majority of Total Association Vote (Paragraph 10(e))

Collections & liens

Assessments are a continuing lien; Association may sue, suspend use of Common Elements, and suspend utilities after judgment (Paragraph 10(b), 10(c)(iv), 10(c)(v))

Reserves & fees

Annual capital reserve budget required; contribution set by Board (Paragraph 10(f))

Leasing & rentals

yes, with restrictions (Paragraph 15)

Architectural approval

Written approval required for any exterior change, alteration, or construction (except Declarant) (Paragraph 13(a))

Maintenance

roof is Common Element, thus Association responsibility (Paragraph 5)

Insurance

Considered maintenance expense; max $2,500 per Owner per occurrence (Paragraph 11(i))

Voting & meetings

one (1) equally weighted vote for such Unit (Paragraph 7)

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