The Owners Association of Academy Condominium, Inc.

Key facts from The Owners Association of Academy Condominium, Inc.'s documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1.1 (implied); Management Certif)

Governing law

Texas Property Code Section 82.116 (Management Certificate) and Texas Uniform Condominium Act (Act) throughout Declaration (Management Certificate first paragraph; )

Collections & liens

Yes, assessments and fines are a lien on the Unit; may be foreclosed or money judgment obtained (Section 6.1)

Reserves & fees

Administration fee $190.00; working capital assessment $500.00 (Management Certificate item 8)

Pets

Yes, domesticated fish, birds, and dogs/cats weighing less than 50 pounds allowed inside a Unit if not a nuisance (Section 5.7)

Leasing & rentals

Yes, each Unit Owner has full right to lease his Unit, but not for transient or hotel purposes (Section 5.6)

Signs & flags

Only one 'For Rent' or 'For Sale' sign per unit (max 2x2' in window or 2x3.5' in Common Area); Declarant may maintain sales signs until all units conveyed (Section 5.2(b); (d))

Maintenance

Common Element – Association responsibility (roof excluded from Unit definition) (Section 1.21 (excluded from Unit, part o)

Insurance

Each unit owner shall obtain casualty insurance on own unit, furnishings, etc., and personal liability insurance with waiver of subrogation (Section 8.1(a))

Use restrictions

Yes, each Unit shall be used for residential purposes only (Section 5.2(a))

Voting & meetings

Each Unit Owner has one vote for each Unit owned (Section 2.7)

Amendments

May be amended only in strict compliance with Act sections; certain amendments require consent of First Mortgagees (Article XII; Section 13.7; Section 14.2)

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