Indian Woods (KY)

Key facts from Indian Woods (KY)'s documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title)

Legal name

Indian Woods Condominiums

Developer / declarant

Design/Build Partners, LLC

Governing law

Kentucky Condominium Property Law (KRS 381) (Section O, Section X)

Assessments & dues

Determined annually by Board; collected monthly or quarterly in advance (Section J)

Collections & liens

Unpaid Common Expenses constitute a lien on the Unit, prior to all other liens except taxes and first mortgage; enforceable by suit; thirty days prior written notice required to interested parties; Council may bid at judicial sale or accept (Section L)

Reserves & fees

Capital Replacement Fund established; funded by portion of Common Expense collections designated for capital replacement reserves; disbursements for major capital improvements or repayment of certain indebtedness (Section S)

Setbacks / home size

Council shall observe any setback lines affecting the Regime as shown on plans (Section I(5))

Use restrictions

Yes, Unit shall be used only for residential purposes (Section G(1))

Voting & meetings

One vote per Unit; joint owners may cast one vote or divide; proxy allowed (Section V)

Amendments

May be amended by vote of majority of unit owners, effective upon signing and recording by a designated Board member; Board may amend without unit owner consent if unit square footage altered by improvement (subject to Board approval) (Section X)

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