Fall Creek Hpr

Key facts from Fall Creek Hpr's documents

Reflects the 1975 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Horizontal Property Regime (Condominium) (Preamble and Section 2)

Legal name

Fall Creek Village Co-Owners Association (Section 13)

Units / lots

19 (Phase I); maximum 73 if all Additional Tract annexed (Section 3 and Section 16(c))

Developer / declarant

Fall Creek Village, Inc. (Introduction, page 1)

Governing law

Horizontal Property Act of the State of Indiana, Acts 1963, Chapter 349, Sections 1 through 31, as amended (Section 1(a))

Assessments & dues

Not fixed; to be determined by annual budget approved by Co-owners (Bylaws Sections 5.02 and 5.03)

Special assessments

Allowed (interim or special assessments) by Board of Managers with approval of a majority of Co-owners if over $27,563.00 in any fiscal year (except for insurance proceeds or budgeted items) (Bylaws Section 3.08 and Section 5.05)

Collections & liens

Association has a lien on each dwelling unit for unpaid assessments; enforcement by foreclosure in the same manner as for common expenses (Bylaws Section 5.07 and Declaration Sect)

Reserves & fees

Interest at 6% per annum on unpaid assessments; Association may also charge a late fee (amount not specified) and require payment of all costs of collection including attorneys' fees (Bylaws Section 5.07)

Pets

Yes, one dog, one cat, or other household pet per dwelling unit, not kept for any commercial purpose (Bylaws Section 6.01)

Leasing & rentals

Yes, but no lease for less than one (1) year (Bylaws Section 6.01)

Home business

Not expressly prohibited but likely implied by residential use restriction; no specific mention

Insurance

Owner may purchase additional insurance; not required but owner responsible for own contents (Declaration Section 18)

Use restrictions

Each dwelling unit shall be used for single family residential purposes only (Bylaws Section 6.01)

Voting & meetings

Percentage Vote equal to Percentage Interest per dwelling unit; each unit initially 1/19 (5.26%) (Section 8 and Bylaws Section 2.04(a))

Amendments

Requires 75% of Percentage Vote, except certain changes require unanimous consent of Co-owners and/or Mortgagees (Declaration Section 21)

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