Barret Terrace Residential

Key facts from Barret Terrace Residential's documents

Community type

Condominium

Legal name

BARRET TERRACE RESIDENTIAL CONDOMINIUMS

Developer / declarant

BARRET TERRACE, LLC

Governing law

Horizontal Property Law of the Commonwealth of Kentucky, KRS 381.805 to KRS 381.910 (WHEREAS clause)

Assessments & dues

Initially $75.00 per month per unit (Article V(A))

Collections & liens

Unpaid common expenses constitute a lien on the unit, prior to all other liens except first mortgage and tax liens; may be foreclosed after 30 days default; council may bring suit and foreclose like a mortgage (Article V(C))

Pets

Each unit may have one pet, limited to a dog or cat, twenty pounds or less; at association discretion, two cats may be allowed (Article II(D))

Leasing & rentals

Unit owner may lease unit, provided written notice of lease, identity of lessee, and term given to council prior to commencement (Article X(A))

Architectural approval

Board of Directors shall have obligation to answer within 30 days of written request (Article II(G))

Insurance

Unit owners may obtain coverage at their own expense for their units, personal property, and other risks (not required) (Article VIII(A))

Use restrictions

Each unit shall be occupied as a residence by one family only; no industry, trade, business, or profession allowed (except incidental business meetings if permitted by board, and declarant's sales activities) (Article II(D))

Amendments

By declarant pursuant to Article VI(F) (during marketing interval); by instrument signed by each unit owner of record and declarant (if required); or by vote of 75% interest in common elements at duly called meeting, with notice to all unit (Article XIV)

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