Granville Place

Key facts from Granville Place's documents

Community type

Planned Development (Title)

Legal name

Granville Place Homeowners' Association

Developer / declarant

Granville Place Homeowners' Association Board of Directors

Governing law

Tennessee Code Annotated, Tennessee General Corporation Act (Bylaws Article II Section 10 and Exhibit)

Assessments & dues

$120 per Lot (as of 2018 increase); originally $25, increased to $75 in May 1988, to $90 on July 1, 2004. (Section 6.04)

Special assessments

May be levied with affirmative vote of 75% of members voting in person or by proxy at a meeting (written notice 10-30 days in advance). For capital improvements, reconstruction, unexpected repair. (Section 6.05)

Collections & liens

Unpaid assessments become a continuing lien (subordinate to first deed of trust). Foreclosure after 21 days advertisement (3 weekly publications) and written notice to owner. Sale extinguishes equitable and statutory rights of redemption. (Sections 6.08, 6.11)

Reserves & fees

Established from regular assessments for improvement, periodic maintenance, repair, and replacement of Common Area and landscaping, etc. (Section 6.03)

Voting & meetings

One vote per lot for Class A members; Declarant (Class B) has seven votes per lot until earlier of 4 months after sale of 75% of lots or 3 years after sale of first lot, then one vote per lot (Article IV Section 4.01)

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