Villas of Chadwick Patio Homes

Key facts from Villas of Chadwick Patio Homes's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Villas of Chadwick Patio Homes Council, Inc.

Units / lots

Approximately 64 (Section 2.4(a): 'Developer currently con)

Developer / declarant

Notting Hill Development, LLC

Governing law

Kentucky Horizontal Property Law, Sections 381.805 through 381.910 (Preamble, second paragraph)

Assessments & dues

Board determines annual estimated Common Expenses, then sets monthly assessment per Unit based on percentage of common interest (square footage). Regular assessment covers operating funds and reserves. (Sections 7.2(a) and 7.1: 'The Council, a)

Special assessments

Allowed for reasonable purposes; may be levied against one Unit, group, or all Units based on benefit; apportionment by square feet unless unfair (Section 7.2(c): 'The Council may from ti)

Collections & liens

Assessment not paid when due becomes a continuing lien on the Unit; may be foreclosed like a mortgage; lien includes interest, costs, attorneys fees (Sections 7.6 and 7.7)

Reserves & fees

Council must include reserve funds for future capital improvements in the regular assessment; reserve funds held in an account in Council's name for benefit of all Unit Owners (Section 7.2(a)(B): 'reserve funds to be )

Leasing & rentals

Yes, units may be leased (Section 5.3: 'Any Unit lease shall be in)

Signs & flags

Prohibited on outside walls or porches without Board consent (Section 5.5: 'no Owner... may... attach )

Use restrictions

Units shall be used only for single family residential purposes; Developer may use as sales office or model during development (Section 5.1: 'The Unit shall be used onl)

Voting & meetings

One vote per Unit owned; if multiple owners of a Unit, they must agree or no vote allowed (Section 6.1: 'each Unit owner shall have)

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