Palma Sola Trace Master Association, Inc.

Key facts from Palma Sola Trace Master Association, Inc.'s documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association for attached villas within Palma Sola Trace master planned community, subject to Chapter 720 Florida Statutes (Sec. 1.3 (Association definition), Sec. )

Developer / declarant

Palma Sola Trace Villas Homeowner's Association, Inc. (original developer: Henderson Brothers Homes, LLC) (First WHEREAS paragraph, document execut)

Governing law

Chapter 720, Florida Statutes (Homeowners’ Association Act); Chapter 617, Florida Statutes (not-for-profit corporations) (Sec. 1.3)

Assessments & dues

Board prepares budget; if annual assessment increase is 115% or less of current, it takes effect automatically; if more, upon written request of 10% of voting interests a membership meeting is called, majority of present votes determines (Sec. 4.3)

Special assessments

Allowed for nonrecurring maintenance, capital improvements, unexpected budget shortfall; approved by majority of Members present and voting at meeting (Sec. 4.4)

Collections & liens

All assessments, interest, costs, attorney’s fees constitute a continuing lien on the Lot; subordinate to first mortgages of record; Association may foreclose lien or sue personally (Sec. 4.10, 4.11, 4.12)

Reserves & fees

Association may carry forward surplus funds year to year; not required to reduce assessments (Sec. 4.8)

Fences

Exterior modifications and installation of fences are discouraged and will not be approved; any fence addition requires ACC approval; fences not part of original construction are not maintained by Association (Sec. 5.2(v), Sec. 2.2.a(i) (exclusion fr)

Architectural approval

Committee must approve or disapprove within 30 days of written submission; if no action, deemed disapproved (Sec. 5.3)

Maintenance

Association has exclusive right to painting and repair of roofs (Sec. 2.2.a(ii))

Use restrictions

Not explicitly stated, but 'Dwelling' defined as structure for natural persons to reside; commercial vehicles restricted; implied residential (Sec. 1.11 (Dwelling definition); Sec. 10)

Voting & meetings

One vote per Lot; if multiple owners, one vote per Lot; votes cast as determined by owners, no split vote (Sec. 3.2)

Amendments

Declaration may be amended by instrument signed by Association officers, approved by two-thirds (2/3) of total votes able to be cast at a regular or special meeting; amendment must be recorded; full text required, with proposed new language (Sec. 6.4)

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