Highland Terrace

Key facts from Highland Terrace's documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Highland Terrace

Developer / declarant

Legacy Development Corporation d/b/a Legacy Homes

Governing law

Kentucky Condominium Property Law, KRS 381.805 through 381.910 (Master Deed, Preamble (WITNESSETH))

Assessments & dues

Board determines estimated Common Expenses annually, approved by Council; assessed monthly or quarterly (Master Deed, Section G)

Special assessments

Not specifically addressed; but Board may borrow to cover deficits (Section Q) (Master Deed, Section Q)

Collections & liens

Unpaid Common Expenses constitute a lien on the Unit, prior to all except tax and first mortgage liens; may be enforced by suit; 30 days prior written notice required; Council may bid at judicial sale or accept deed in lieu (Master Deed, Section I and J)

Reserves & fees

Capital Replacement Fund established, funded by portion of Common Expense collections; used for major capital improvements or debt repayment (Master Deed, Section O)

Pets

Dogs allowed up to 20 inches in height; no livestock, poultry, rabbits, snakes (Bylaws Article IV Section 3(k) and (o))

Leasing & rentals

Yes, residential unit leases must be in writing and subject to Declaration and rules (Master Deed, Section F(2))

Architectural approval

Yes, Board or Developer written approval required for exterior modifications, decorations, and certain installations (Master Deed, Section D(7) last sentence;)

Signs & flags

No signs without Council approval; exception for 'FOR SALE' type sign for reasonable time; amendment prohibits 'for rent' or 'for sale' signs without prior Council approval; Developer has authority over commercial signage (Bylaws Article IV Section 3(f); Amendmen)

Setbacks / home size

Council shall observe any setback lines affecting the Regime as shown on plans (Master Deed, Section F(5))

Use restrictions

Yes, except commercial units at 947-9 and 955-7 Baxter Avenue (Master Deed, Section F(1))

Voting & meetings

Percentage of common interest; each Unit has a percentage vote (Master Deed, Section R; Bylaws Article I)

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