Twelve Oaks (TN)

Key facts from Twelve Oaks (TN)'s documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association

Legal name

TWELVE OAKS OF MEMPHIS HOA, INC.

Assessments & dues

Set annually by Board of Directors after consideration of current operating and maintenance costs and future needs; each Lot assessed equally on a pro rata basis (Paragraph 6 of Amendment (Article V, Sec)

Special assessments

May be levied by Association for construction, reconstruction, unexpected repair or replacement of improvement for which Association is responsible, or other purposes as Board considers necessary; approved by Board of Directors (Paragraph 7 of Amendment (Article V, Sec)

Collections & liens

Delinquent assessment after 15 days becomes a lien on lot; subordinate to real estate taxes and prior mortgages; can be enforced by suit; also detailed non-judicial foreclosure: 21 days notice by three publications in newspaper, sale at sou (Paragraph 9 of Amendment (substituted Ar)

Reserves & fees

Reasonable late fee as permitted by applicable Tennessee law, subject to change from time to time by the Board (Paragraph 9(A) of Amendment)

Pets

Cats or other household pets may be kept, provided not for commercial purpose and do not become nuisance. Household pets defined as dogs, cats, rabbits, birds, fish. No reptiles, wildlife, or domestic farm animals. Association may adopt pet (Paragraph 12 of Amendment (replacing Art)

Leasing & rentals

Persons acquiring title after recordation of this amendment prohibited from leasing. Existing owners (pre-recordation) may lease, except all owners prohibited from leasing for less than 30 days. Board may grant exceptions for medical reason (Paragraph 18 of Amendment (new Article X)

Parking & vehicles

Strictly prohibited to store or park junk or inoperable automobiles on or about any Lot (Paragraph 13 of Amendment)

Use restrictions

Each Lot shall be used primarily for residential purposes (Paragraph 10 of Amendment (new Article I)

Voting & meetings

Each lot owner holds votes; percentage required for amendments: 64% for amendment, 78% for termination (Paragraph 17 (Article XI, Section 3 amen)

Amendments

Declaration: amendment requires approval of Lot Owners holding at least 64% of votes; termination requires 78%; effective upon recordation. Notice of proposed amendment must be in meeting notice. Amendment may be proposed by majority of Boa (Paragraph 17 (new Article XI, 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.