Waterford Homeowners Association (TN)

Key facts from Waterford Homeowners Association (TN)'s documents

Reflects the 1987 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Single-family residential subdivision (Article I Section 1.9 (Site/Lot definiti)

Assessments & dues

Not fixed; determined annually by Board of Directors at least 30 days before January 1. If not fixed, prior year's amount continues. (Article V Section 5.6)

Special assessments

May be levied by 2/3 vote of members at meeting after 5 days notice, or by Board for budget shortfall unless rejected by 51% of members within 15 days. (Article V Section 5.5)

Collections & liens

Assessment lien arises automatically; may be foreclosed; lien subordinate to first mortgage. Personal obligation of owner at time assessment fell due. (Article V Sections 5.3, 5.7)

Reserves & fees

May be created by Board resolution for contingencies, repairs, maintenance, or other purposes. (Bylaws Article 8 Section 8.01)

Pets

Household pets in reasonable numbers for sole pleasure of occupants, not for commercial purpose. (Article VI Section 6.7)

Leasing & rentals

Not explicitly addressed; however, residential use requires owner occupancy, implying leasing is not permitted. (Article VI Section 6.4 ("owner occupied")

Architectural approval

Prior written approval of Developer (Architectural Committee) required for any construction, reconstruction, remodeling, alteration, fence, wall, driveway, path, etc. (Article VI Section 6.2(a))

Home business

Commercial or business use prohibited on any site. (Article VI Section 6.8)

Setbacks / home size

All homes must contain at least 2,700 square feet of living space, excluding garages, patios, or carports. (Article VI Section 6.2(b) item 14)

Use restrictions

Each site shall be used only for private, single family, owner occupied residential purposes. (Article VI Section 6.4)

Voting & meetings

Class A: 1 vote per lot; Class B (Developer): 4 votes per lot until 80% lots improved by owner-occupied residences or 5 years from date, whichever later. No cumulative voting. (Article III Section 3.4; Bylaws 4.08)

Amendments

Developer may amend without owner joinder for 8 years from date of declaration. After that, amendment requires vote of majority of then owners. Duration until December 31, 2039, with automatic 10-year extensions unless majority votes to cha (Article IX Sections 9.1, 9.2)

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