Chelsea's Way Homeowners Association

Key facts from Chelsea's Way Homeowners Association's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Developer / declarant

Century Communities of Tennessee, LLC, a Delaware limited liability company; original declarant G & N Properties, LLC assigned rights to Century Communities on November 20, 2020 (First Amendment, Recitals; Declaration A)

Governing law

Tennessee Nonprofit Corporation Act (referred to for indemnification) (Declaration Article IV §12 (Indemnificat)

Special assessments

Board may levy Special Assessments for construction, repair, additions, loan repayment, or other costs (Declaration Article VII §10)

Reserves & fees

Association shall establish and maintain reserve funds for maintenance, repair, replacement, and operating contingencies (Declaration Article VII §2(f))

Leasing & rentals

Yes, but only by written lease with minimum term of 1 year; short-term rentals (Airbnb, VRBO, etc.) strictly prohibited (First Amendment §1 (replaces Article XI,)

Voting & meetings

Each Owner (Member) cast one vote per Lot owned; delinquent members lose right to vote; Declarant may regulate proxies (Declaration Article III §4, §5, §6)

Amendments

During Appointment Period, Declarant may amend; later amendments not detailed but require Declarant consent for certain provisions; FHA/VA compliance amendments may be made without Owner or other approval (Declaration Article VI §1 (Declarant's r)

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