Magnolia Preserve

Key facts from Magnolia Preserve's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Single-family residential subdivision (Article 8.01 and throughout)

Developer / declarant

Magnolia Homes, Inc.

Assessments & dues

Until 2019, $300 per lot per year maximum (Article 6.10)

Special assessments

Requires assent of Members representing 2/3 of total votes eligible to be cast (Article 6.03)

Collections & liens

Unpaid assessments become a continuing lien; after 10 days delinquency, sale may be conducted after 21 days public notice (3 weekly publications), subordinate to first mortgage and taxes (Article 6.05)

Reserves & fees

Included in annual expenses; general operating reserve and/or reserve for replacements (Article 6.02(d))

Pets

Yes, dogs, cats, and other household pets may be kept (Article 8.02(g))

Parking & vehicles

Recreational vehicles, commercial vehicles including boats, boat trailers, house trailers, motorcycles, pickup trucks must be kept in garage screened from view (Article 8.02(m))

Fences

No fence in front yard; fences must be cedar wood, masonry brick, or ornamental iron; if cedar facing street must be 6' capped wood with smooth side outward; all fences require Architectural Committee approval (Article 5.03 and Article 8.02(q))

Architectural approval

No structure, fence, or barrier shall be commenced, erected, placed, moved onto, or altered without written consent of Architectural Committee (Article 7.02)

Solar & roof

Roofing must be architectural shingles with at least 25-year warranty; all colors must be approved in writing by Architectural Committee (Article 8.02(t))

Signs & flags

Two 'for sale' signs not more than 6 square feet each per Lot permitted (Article 8.02(dd))

Setbacks / home size

No building nearer than 30 feet from any street right-of-way; Architectural Committee may waive but never less than Collierville's minimum building setback (Article 8.02(p))

Use restrictions

No Lot shall be used except for private residential purposes (Article 8.01)

Voting & meetings

Each lot owner one vote per lot; Declarant ten votes per lot owned (Article 3.02)

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