307 W. Elizabeth Street Condominiums

Key facts from 307 W. Elizabeth Street Condominiums's documents

Community type

Condominium

Legal name

307 W. Elizabeth Street Condominiums

Developer / declarant

Ark Home 12, LLC

Governing law

Texas Uniform Condominium Act (TUCA), Chapter 82 Texas Property Code (Recitals para 2)

Assessments & dues

Set annually by Members within 60 days of calendar year; amount not fixed (Section 4.05)

Special assessments

Allowed if Regular Assessments inadequate; levied same manner as Regular (Section 4.06)

Collections & liens

Association has lien for delinquent assessments; may foreclose non-judicially under Texas Property Code §5.082; power of sale granted (Section 4.04)

Leasing & rentals

Not explicitly addressed; but short-term rental representation by Declarant (Section 2.17) (Section 2.17)

Home business

Not explicitly addressed (None)

Insurance

Association may acquire blanket all-risk policy if Owner fails; each Unit Owner required to maintain property insurance for Unit (Section 3.08(c)(v)). Liability insurance for Association and Members (Section 3.08(c)(vi)). (Section 3.08(c)(v) and (vi))

Use restrictions

Implied by restrictions; no explicit statement but defined as Dwelling, site condominium (Section 5.01 General Restrictions (partl)

Voting & meetings

One vote per Unit, regardless of number of owners of that Unit (Section 3.03)

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