The Courts at Gainey Ranch

Key facts from The Courts at Gainey Ranch's documents

Reflects the 1985 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Recitals: "submit and subject the Proper)

Legal name

The Courts at Gainey Ranch Homeowners Association (Section 1.5 (Definitions – 'Association')

Units / lots

70 Units (maximum) (Section 3.2: "There are or are planned t)

Developer / declarant

DEVELOPERS FINANCIAL GROUP, an Arizona general partnership (Preamble and Section 1.9)

Governing law

A.R.S. §§33-551 through 33-561 (horizontal property regime); after January 1, 1986, A.R.S. §§33-1261 through 33-1270 (Condominium Act) (Section 1.1 (Definitions – 'Act') and Re)

Assessments & dues

Amounts not fixed; set by Board of Directors (Section 7.2)

Special assessments

Requires vote of two-thirds of members voting in person or by proxy at a meeting duly called for that purpose; for capital improvements on Common Elements (Section 7.4)

Collections & liens

Unpaid assessments constitute a lien on the Owner's Unit, subordinate to prior recorded First Mortgage; may be foreclosed like realty mortgages or mechanic's liens (Section 7.3)

Reserves & fees

Adequate reserve fund for replacement of Common Elements which must be replaced on a periodic basis (Section 7)

Leasing & rentals

Yes, but with restrictions: no transient/hotel use, lease must be for entire Unit, minimum 30 days, written, include provisions binding the lease to Condominium Documents, and copy provided to Association (Section 17.2)

Signs & flags

Declarant may maintain sales offices and signs; no restriction on other signs mentioned (Section 17)

Voting & meetings

Class A (all owners except Declarant): one vote per Unit owned. Class B (Declarant): three votes for each Unit owned or right to construct. Class B ceases upon sale or when Class A votes equal or exceed Class B. (Section 4.3)

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