Thomas Village Patio Homes Homeowners Association

Key facts from Thomas Village Patio Homes Homeowners Association's documents

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

Community type

Covenant / Planned Community

Legal name

Thomas Village Patio Homes Homeowners Association

Governing law

New Mexico HOA Act (Section 6.1 (implicit) and 6.7)

Assessments & dues

Board proposes annual budget with assessment allocation (1/70th per lot); budget and assessment presented to Members for ratification at annual meeting. (Section 6.4)

Special assessments

Supplemental maintenance assessment may be levied mid-year to cover shortfall; capital improvements assessment requires majority vote of Members. (Section 6.4 (supplemental) and Section 6)

Collections & liens

Nonpayment creates a continuing assessment lien on the Lot. Association may file a lawsuit to foreclose the lien after 30-day notice of claim of lien recorded in Bernalillo County. Foreclosure sale per New Mexico district court practice. Ow (Sections 6.1, 6.7-6.10)

Reserves & fees

Reserve Trust Fund for major repairs, replacements, and capital improvements; segregated from operating fund; withdrawal only for those purposes unless authorized by majority vote of Members. (Section 6.3)

Voting & meetings

Each Member has voting power; majority of voting power required for certain actions (e.g., capital improvements assessment, amendment). (Sections 6.6, 6.3, 8.1)

Amendments

Amendment requires affirmative vote or written consent of two-thirds of voting power of Members whose voting rights are not suspended, and recording of a certificate signed by secretary in Bernalillo County Clerk's Office. (Section 8.1)

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