Sim Rose

Key facts from Sim Rose's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Sim-Rose Condominiums

Developer / declarant

Mary Lee Turner

Governing law

Horizontal Property Law, Chapter 381, of the Kentucky Revised Statutes (Page 1, first WHEREAS clause)

Assessments & dues

Assessed in accordance with the provisions of the Bylaws (Article Fourth: 'share, as assessed in a)

Collections & liens

Mortgagee acquiring title via foreclosure not liable for assessments due prior; assessment liens subordinate to first mortgages. Grantee may request statement of unpaid assessments and not liable for excess not stated. (Article Eleventh (page 10), Article Twel)

Leasing & rentals

Yes, but subject to the Council’s right of first refusal (Article Sixth (page 8): 'owner who desir)

Use restrictions

Implied: 'four separate single family dwelling units' (Page 3: 'divided into four separate sing)

Voting & meetings

Each unit owner automatically a member of the Council; voting rights per Bylaws not provided (Page 2: 'membership shall automatically )

Amendments

Requires unanimous agreement of all co-owners and all holders of deeds of trust, mortgages, or other security interests in any unit, by duly recorded instruments; exception for destruction provisions in Bylaws Article VI (Article Thirteenth (page 11))

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