Inverness Park

Key facts from Inverness Park's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (Inverness Park Homeowners Association, Inc.) (Section 1 of Article I)

Legal name

INVERNESS PARK HOMEOWNERS ASSOCIATION, INC.

Units / lots

65 (maximum) (Exhibit A, paragraph 5: "The plat of Inv)

Developer / declarant

MEADOWLANDS DEVELOPMENT, LLC

Assessments & dues

Maximum $75.00 per month per improved lot as of December 31, 2022; stated as $900.00 per year payable annually in advance. (Article IV, Section 3(c): "$ 900.00 unti)

Special assessments

May be levied for capital improvements to Inverness Park entrance signage, with approval of two-thirds of each class of members. (Article IV, Section 5)

Collections & liens

Assessments (annual, special, direct) with interest, costs, and attorney's fees are a continuing lien on the lot; Association may bring an action to foreclose. (Article IV, Section 1(a) and Section 9)

Fences

Fences within the 20-foot buffer zone may be installed only if approved by the Inverness Park Homeowners Association, Inc. Landscaping within enclosed fenced areas requires HOA approval. (Exhibit A, item 4; Article II, Section 2)

Architectural approval

Yes, all buildings, fences, walls, structures, and exterior additions/alterations require prior written approval from the Board of Directors or the ACC. Dwelling plans, landscaping plans, site plans must be approved by Declarant before cons (Article V and Article II, Section 2(a) i)

Setbacks / home size

For lots adjoining existing Inverness: maximum 25 ft front setback, unless waived with a 50 ft rear yard setback from buffer zone to rear wall (waiver only for lots 5,6,7,42-47). Otherwise, minimum zoning distances apply. (Exhibit A, item 1)

Maintenance

Owner is responsible for maintaining the roof (included in exterior walls and surfaces). (Article IV, Section 1(b) (direct assessm)

Insurance

Owner must keep each Dwelling Unit insured against fire with extended coverage for at least 90% of replacement value, name Association as additional insured, apply proceeds to rebuilding, and rebuild/restore after damage. (Article VIII (a) through (e))

Voting & meetings

Two classes: Class A – one vote per lot per Owner (excluding Declarant); Class B – Declarant gets 65 votes until earlier of 65 lots sold or 10 years from date of Declaration; Class B may be reinstated upon annexation. (Article III, Section 2)

Amendments

During first 5 years: 80% of lot owners (including Declarant’s 65 votes) must sign; thereafter: 75% of lot owners. Amendment must be recorded. Declaration automatically extends for successive 10-year periods after initial 20-year term. (Article IX, Section 3)

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