Cristown Estates

What Cristown Estates's governing documents say

Cristown Estates is an age-restricted (55+) stock cooperative community in Phoenix, AZ — you buy shares in the corporation that owns the building, giving you the right to occupy a specific apartment unit. The corporation maintains the exterior and common areas, while you are responsible for the interior of your unit and paying monthly assessments. Leasing is prohibited, and occupancy is limited to residents who meet HOPA requirements.

• Age restriction (55+): The community adheres to the Housing for Older Persons Act (HOPA) of 1995, meaning at least one occupant per unit must be 55 or older. No one under 55 may permanently reside, unless as a spouse or family member per HOPA guidelines.
• What you own & maintain: You own shares in the corporation, not real property. You must maintain the interior of your apartment, including plumbing and electrical systems, heating/cooling apparatus, and all interior fixtures. The corporation maintains the exterior, roof, and common areas. Party wall repairs are shared per specific rules: 1-bedroom owners split costs with neighbor, 2-bedroom owners pay fully for wall between bathroom and kitchen.
• Leasing & rentals: Leasing or renting your unit is strictly prohibited. You may transfer your interest to an immediate family member by gift, bequest, or assignment without board approval, but must execute a new occupancy and stock ownership agreement. Sales of shares require board approval, and the corporation has a first right of refusal.
• Pets: Dogs are not permitted. Indoor cats are allowed.
• Monthly assessments: The board sets an annual budget and each unit pays a monthly assessment in advance. The current maximum is $720 per year ($60/month) unless increased by a 3/4 vote of stockholders. Assessments are due on the first of each month; unpaid assessments become a lien after 30 days.
• Alterations & modifications: You must obtain written consent from the corporation before making any structural alterations, including changes to electrical conduit, plumbing, or fixtures. Removing additions or improvements from the premises is also prohibited without approval.
• Default & enforcement: If you fail to pay assessments or breach any covenant, the corporation may sue for an injunction, damages, or other remedies. You are responsible for all costs, including attorney fees, incurred in enforcing the rules.

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.