Rancho El Dor

What Rancho El Dor's governing documents say

Rancho El Dorado is subject to a private transfer fee covenant (not a standard HOA or condominium) recorded against the land. This document creates a 1% fee due on most sales of property, collected by a trustee and paid to designated beneficiaries. It binds all current and future owners, but does not establish typical community rules like architectural controls, pet limits, or rental restrictions.

• Transfer fee amount & when due: Each time title to the property is transferred (except for exempt transfers), the seller must pay a fee equal to 1% of the gross sales price. The fee is due at closing and is a condition of the transfer.
• Exemptions from the transfer fee: The fee is waived for transfers: by the Declarant; between spouses; by will, probate, or bankruptcy; by foreclosure; to a government agency; to a Beneficiary or Trustee; if the Trustee cannot be identified; if prohibited by law; and for transfers occurring before the covenant was recorded.
• Term of the covenant: The covenant runs for 99 years from the date referenced in paragraph 6(j) (the recording date). It is intended to be a covenant running with the land and a deed restriction.
• Who collects and how the fee is used: A Trustee (initially National Covenant Disbursement, LLC) collects the fee, retains 3% as its own fee, and distributes the rest to Beneficiaries (Pistol V Irrevocable Trust, Freehold Licensing, and TFR Capital). Additionally, 5% of all fees received are to be paid to a non-profit charity for community benefit.
• Lien for unpaid fees: Unpaid transfer fees become a lien on the property, which can be foreclosed. The Trustee can file a Claim of Lien and pursue foreclosure or a money judgment. Owners acquiring title are jointly and severally liable for unpaid fees from prior owners.
• What this document doesn't cover: This document does not contain rules about daily living—no pet restrictions, rental limits, age restrictions, architectural standards, parking rules, or maintenance obligations. It solely governs the private transfer fee. For community rules, check separate governing documents (if any).

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.