Las Estancias Condominium Owner's

Key facts from Las Estancias Condominium Owner's's documents

Community type

Condominium

Legal name

LAS ESTANCIAS CONDOMINIUM OWNER'S ASSOCIATION, INC.

Developer / declarant

SCHOENBAUM-WATSON, Joint Venture

Governing law

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

Assessments & dues

Board estimates net charges for year, assesses each Owner based on ratio of number of Units owned to total Units in Project subject to assessment (Article 4.02)

Special assessments

Board may levy special assessment if regular assessment inadequate for unexpected costs, construction, repairs, replacements (Article 4.03)

Collections & liens

Association has lien on each Unit for delinquent assessments; may enforce by nonjudicial foreclosure under Texas Property Code Section 51.002; Board granted power of sale through trustee (Article 4.08)

Reserves & fees

Assessments must be large enough to provide adequate reserve fund for maintenance, repairs, replacement of Common Elements; funded through regular monthly assessments, not special assessments (Article 7(g))

Pets

Dogs, cats, or other household pets may be kept in Units, subject to Rules; no livestock or poultry (Article 5.01(e))

Leasing & rentals

Allowed, but unit not for transient/hotel purposes; minimum lease term of 6 months; subject to Governing Instruments and Rules (Article 5.01(a))

Architectural approval

Any painted or colored blind, shutters, curtains, awnings, drapes, lighting, etc. visible to public view or in common areas requires Board approval; also any alteration, painting, construction on Common Elements requires Board written conse (Article 2.02 (last sentence); Article 5.)

Maintenance

Owner: maintain Unit interior (including finish surfaces) and limited common elements appurtenant to Unit; Association: maintain general common elements (Article 5.02; Article 3.07(a))

Insurance

Fire insurance with extended coverage for full insurable replacement value of Units and Common Elements; liability insurance not less than $1,000,000 per person, $1,000,000 per accident, $1,000,000 property damage (Article 3.07(b)(ii) and (iii))

Use restrictions

Units may be used only as private residences; leasing allowed but not for transient/hotel purposes, lease term at least 6 months (Article 5.01(a))

Voting & meetings

Each Unit entitled to percentage of total vote equal to its percentage interest (Exhibit D); if multiple owners, aggregate vote not to exceed unit's percentage (Article 3.03)

Amendments

Amendments approved by at least 67% of ownership interests at meeting; cannot alter a Unit or Limited Common Element without consent of affected Owners and first lien mortgagees; amendment must be recorded (Article 8.01)

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