Lancashire Place

Key facts from Lancashire Place's documents

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

Community type

condominium (Declaration of Condominium Property Regi)

Legal name

Lancashire Place

Units / lots

38 (22 originally, expanded to 38 by March 2008 amendment, no further units per Fifth Amendment) (Section B initially 22 units; DOC 121245)

Developer / declarant

Legacy Development Corporation

Governing law

Kentucky Revised Statutes Sections 381.805 through 381.910 (Condominium Property Law) (Section A preamble)

Assessments & dues

Not fixed; determined annually by Board based on estimated Common Expenses, collected monthly or quarterly (Section I; Bylaws Article IV Section 1)

Collections & liens

Unpaid Common Expenses constitute a lien prior to all except taxes and first mortgage; 30-day notice required before enforcement suit; may also file mechanic's lien (Section K)

Reserves & fees

Capital Replacement Fund established for major capital improvements; budgets include reserve for capital expenditures (Section Q; Section A.5 (common expense b)

Pets

Yes, but only one dog or cat per unit; no exotic animals (reptiles, rodents, monkeys, pigs, birds) (Bylaws Article IV Section 3(o))

Leasing & rentals

Yes, lease must be in writing and subject to Declaration, Bylaws, and rules (Section F.2)

Architectural approval

Board approval required for exterior modifications, decorations, landscaping, wiring, antennas, etc. (Section E; Bylaws Article IV Section 3(g)

Insurance

Fire and extended coverage, vandalism, malicious mischief, liability insurance; may include other perils (Section M)

Use restrictions

Units used only for single-family residential purposes (Section F.1; Bylaws Article IV Section 3)

Voting & meetings

Each Unit's vote is its percentage of common interest; majority defined as >50% of common interest (Section C and Section T; Bylaws Article )

Amendments

Declaration: majority of Unit owners; Developer may amend for errors or as-built plans without unit owner consent. Bylaws: more than two-thirds of unit owners. Certain matters require 67% unit owner vote and 51% (or 67% for termination) fir (Section W; Bylaws Article V Section 1; F)

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