Coro Lake

Key facts from Coro Lake's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Coro Lake Property Owners Association

Governing law

Laws of the State of Tennessee; T.C.A. Section 66-24-101(a)(27) referenced (Article III; Correction Affidavit (DOC 1)

Assessments & dues

$150.00 per lot, but no more than $500.00 per lot in any calendar year. (Article XII C)

Special assessments

If majority of Trustees determine circumstances require additional assessment, they must give notice and state purpose. (Article XII C)

Collections & liens

If assessments not paid by March 31, lien filed with Shelby County Register's Office. Lien filing fees and release fees borne by owner. Unpaid assessments become a lien on property, collectable by legal action. (Article XII G, H)

Reserves & fees

Interest at 10% per annum on delinquent assessments, from first day of delinquency (after March 31). (Article XII E)

Fences

Fence designs submitted for approval. Fences across front of properties discouraged. Divisional fences no closer to property lines than permitted in original plat. (Article VI C, I; Article VII E)

Architectural approval

Board of Trustees approval required for any building, fence, wall, dock, or structural alteration. (Article VI E, I)

Home business

Commercial activity prohibited. No offensive trade or commercial activity. (Article VI O)

Signs & flags

Only 'For Sale', security, or political signs allowed unless special approval. Event signs must be removed within 48 hours. (Article VII D)

Setbacks / home size

Building set-backs from street property line shall conform to those of surrounding homes. (Article VI C)

Maintenance

Owner responsible for lot maintenance, structures, and docks they own. Association responsible for lake, common properties, and capital improvements. (Article VI D; Article XII A)

Use restrictions

All lots exclusively single family residential except access lots. No care homes, boarding houses, day care centers, etc. (Article VI A)

Voting & meetings

One vote per lot. Owner must be current with assessments to vote. Proxy allowed with notarized writing. (Article XI A, B, PAGE 22-23)

Amendments

Adopted or rejected by simple majority of responding property owners in good standing. Copies mailed 30 days before ballot counting. Effective for 5 years starting January 1, 2016. Subject to review every 5 years. If rejected, existing cove (Article XVI, PAGE 28-29)

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