Villa West Hpr

Key facts from Villa West Hpr's documents

Community type

Condominium

Legal name

Villa West Horizontal Property Regime

Governing law

Act 60 of 1961 of the General Assembly of the State of Arkansas, as amended (Article XXXIV, Page 17)

Assessments & dues

Fixed annually by Board based on budget, allocated per percentages from Master Deed. (Article XVIII, Page 7-8)

Special assessments

Allowed when estimated common expenses are inadequate; limit of $3,000 for maintenance/repair special assessments per apartment unless otherwise provided. (Article XVIII a, Page 7; Article XV i, P)

Collections & liens

Unpaid assessments become a lien upon recordation of notice; lien priority only to taxes and prior recorded mortgages; foreclosure by Board sale in accordance with law. (Article XIX, Page 8-10)

Pets

Yes, dogs, cats, or other household pets may be kept subject to Board rules and regulations. (Article XXV e, Page 13)

Leasing & rentals

Yes, but subject to right of first refusal in favor of remaining owners. (Article XXX, Page 14-15)

Home business

Not permitted (implied by "private residence" restriction). (Article XXV a, Page 12-13)

Use restrictions

Apartments and common elements shall be occupied and used only as private residences for owner, family, lessees, or guests. (Article XXV a, Page 12-13)

Voting & meetings

Each owner entitled to vote; cumulative voting allowed for Board elections. (Article XIV, Page 4-5)

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