Picacho Heigh

What Picacho Heigh's governing documents say

This is a private transfer fee covenant (ancillary document) that applies to the property at 653 W Central Ave, Coolidge, AZ. It binds all current and future owners, requiring payment of a 1% fee of the gross sales price to Terratitle Community Development Program Inc. on each sale for 90 years. It is not a full homeowners association declaration and does not govern day-to-day living rules.

• Transfer fee: A 1% fee of the gross sales price (including cash, notes, trade) is due on each conveyance of the property, payable to Terratitle Community Development Program Inc. The fee is collected at title closing and mailed to the licensee.
• Duration: The covenant runs with the land for 90 years from May 14, 2008, or the maximum period allowed under the rule against perpetuities, unless terminated earlier by written agreement of both the owner and licensee.
• Enforcement: The licensee (Terratitle) has the exclusive right to enforce the declaration; individual homeowners cannot enforce it. The prevailing party in any enforcement lawsuit may recover attorneys' fees.
• Exemptions: The transfer fee does not apply to forced sales by a bank, court action, or refinancing of the property. The initial transfer by the owner/declarant may be waived by the licensee.
• What this document doesn't cover: This document does not address typical community rules such as leasing, pets, maintenance responsibilities, architectural review, parking, or assessments. It is solely a private transfer fee covenant.

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.