Tara Association

Key facts from Tara Association's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title page)

Legal name

Villas at Tara Condominiums

Developer / declarant

FALCON HOMES, INC., a Nevada corporation (Section 1.13)

Governing law

Nevada's Uniform Common-Interest Ownership Act, codified in Chapter 116 of Nevada Revised Statutes (Section 1.1)

Assessments & dues

Not fixed; Board sets annual Common Assessment based on budget and subject to member ratification (Sections 5.5, 5.6, 5.8)

Special assessments

Board may impose reasonable Special Assessment after Notice and Hearing for violations; capital improvement assessments require 51% member vote (Sections 5.11, 5.12)

Collections & liens

Notice of Lien recorded; foreclosure sale permitted after 90-day notice of default; lien prior to first mortgage for common assessments due in 6 months preceding default notice (Sections 5.14, 5.15, 5.18)

Reserves & fees

Association shall establish and maintain a Reserve Fund for major component repair, replacement, restoration; withdrawals require signatures of at least two Board members or one Board member and one non-Board officer (Section 5.3)

Use restrictions

Each Unit shall be used exclusively for residential purposes (Section 6.3(a))

Voting & meetings

One vote per Unit; joint owners must designate one person to cast the vote; if not designated, right forfeited (Section 2.3)

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