Lakeside on Preston

Key facts from Lakeside on Preston's documents

Reflects the 1990 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

master planned community (Overall scheme: Master Association with )

Legal name

Lakeside On Preston

Developer / declarant

Betsy Brent Turner (Preamble)

Governing law

Chapter 81 of the Texas Property Code (condominium regimes) (Section 1.13)

Assessments & dues

Set by Delegates through annual budget; no specific dollar amount given (Section 4.03)

Special assessments

Allowed for capital improvements, unexpected repairs, emergency, etc.; must be approved by majority of collective Delegates from Commercial and Residential Associations (Sections 4.04, 4.07)

Collections & liens

Unpaid assessment becomes a continuing lien on the Estate; Master Association may foreclose judicially; recorded notice of lien; lien superior except tax liens and prior recorded mortgages (but past due assessments may have priority if noti (Section 4.11(b) and (c))

Reserves & fees

Annual assessments include reserves for future periodic maintenance, repair, replacement; held in separate account, not commingled (Section 4.10)

Architectural approval

Yes, Architectural Review Committee established for architectural control and design within the Property (Section 1.04; Article XI (index))

Insurance

Reasonable deductible allowed; added to face amount to determine if coverage equals full replacement cost (Section 7.01)

Voting & meetings

Members vote through Delegates; each Delegate has one vote; Members have no direct vote in Master Association matters (Section 3.03)

Amendments

Not fully specified in provided text; Supplemental Master Declarations are permitted under Article II; general amendment procedure likely governed by Article XIV (not fully provided) and Bylaws (Article II and Article XIV (index))

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