Handsboro Pointe Condominiums Ph 1 - Letter/#

Key facts from Handsboro Pointe Condominiums Ph 1 - Letter/#'s documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Handsboro Pointe Condominiums

Developer / declarant

IG DEVELOPMENT, LLC (Page 1: 'Declarant: IG DEVELOPMENT, LLC')

Governing law

Condominium Ownership Act, Section 89-9-5 et seq., Mississippi Code of 1972, as amended (Article I (Page 2-3): 'Condominium Owner)

Assessments & dues

Initial annual Assessment per Unit for Building A (Phase 1) for calendar year 2024 is described on an attached Schedule (not provided in text). (Article VIII Section 3(A) (Page 18))

Special assessments

Allowed for capital improvements with affirmative vote of at least two-thirds (2/3) of membership voting. (Article VIII Section 4 (Page 19))

Collections & liens

Assessments constitute a continuing lien on the Unit and are a personal obligation of the Owner. Association may foreclose or sue at law. (Article VIII Sections 1 and 8 (Page 17, )

Reserves & fees

Capital Reserve Assessment established for long-term capital expenditures, temporary shortfalls, emergency use, and other purposes decided by Board. Transfer fees and working capital deposits also placed in reserve. (Article VIII Section 3(C) and Article II)

Pets

Yes, but limited to 2 pets per Unit, subject to prior written consent of Board (which may be revoked). Must be leashed outside Unit; owner responsible for waste. (Article VII Section 3(e) (Page 13))

Leasing & rentals

Yes, both Residential and Commercial Units may be leased. Short-term rentals allowed only if complies with City of Gulfport requirements. Lease must be in writing and contain subordination clause. (Article VII Section 2 (Page 12-13))

Use restrictions

All Residential Units shall be used exclusively for residential purposes. (Article VII Section 1 (Page 12))

Voting & meetings

Each Unit Owner has one vote per Unit. Declarant initially entitled to 25 votes for Building B units; reduced as units are sold. (Article V Section 1 (Page 7-8))

Amendments

By instrument signed by not less than two-thirds (2/3) of the Condominium Units represented by the Owners thereof. Declarant may amend unilaterally before the sale of a Unit in Building A (Phase 1). Phase 2 may be added by Declarant without (Article XI Section 3(A) and 3(B))

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