Cheatham Farms

What Cheatham Farms's governing documents say

This is an ancillary covenant restricting resale or rental of a specific property in Cheatham Farms, a single-family subdivision in Laveen, AZ. It applies only to the original owner of Lot 113 for one year after purchase and is not a full set of community rules.

• Resale & rental restriction (1 year): The owner cannot sell, lease, rent, or otherwise transfer the property within one year of the closing date without the seller's written consent. A "for sale" or "for rent" sign is also prohibited during that period.
• Liquidated damages for violation: If the owner violates the restriction, they must pay the seller $20,000 in liquidated damages, plus 15% annual interest and reasonable foreclosure costs if a lien is enforced.
• Exceptions (seller may waive): The seller may waive the restriction in extreme circumstances, such as the owner's death, transfer to spouse/children, divorce, job relocation over 25 miles, or other circumstances beyond the owner's control.
• Lien & subordination: The seller has a lien on the property to secure payment of liquidated damages, which is subordinate only to property tax liens and first/second mortgages or home equity loans.
• What this document doesn't cover: This document is not a full set of HOA rules. It does not cover common area maintenance, assessments, architectural guidelines, parking, pets, or other typical community restrictions.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.