Stonecrest (KY)

Key facts from Stonecrest (KY)'s documents

Reflects the 1989 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Master Deed preamble: 'Condominium Regim)

Legal name

Stonecrest Condominium Homes

Units / lots

54 (maximum habitable units, including six carriage house units) (Master Deed Para 1: 'not more than 54 ha)

Developer / declarant

Potter and Cox Limited, II

Governing law

KRS 381.805 to 381.910 (Kentucky Horizontal Property Law) (Master Deed preamble)

Assessments & dues

Set annually by Board based on estimated budget; no fixed amount (Master Deed Para 11(n))

Special assessments

Board may levy further assessment as common expense if budget inadequate; also special assessment for maintenance of unit owner's responsibility if Board performs (Para 11(g)(ix)) (Master Deed Para 11(n) and 11(g)(ix))

Collections & liens

Unpaid assessments constitute a lien on the Unit, enforceable by foreclosure in like manner as mortgages under Kentucky state law; attorney's fees recoverable (Master Deed Para 10(b))

Reserves & fees

Board shall build up and maintain a reasonable reserve for contingencies and replacements (Master Deed Para 11(n))

Use restrictions

Each Unit shall be used as a residence for a single family and for no other purpose; no part of Property used for other than housing and related common purposes (Master Deed Para 7 and 12(a))

Voting & meetings

Each Unit owner has one vote per Unit owned (Master Deed Para 11(a))

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