Faulkner Point Homeowner

What Faulkner Point Homeowner's governing documents say

This is the full Declaration of Condominium for Faulkner Point Condominium, a condominium community in Coppell, TX. You own your individual unit and a shared interest in the common elements (building structure, land, amenities). The association (Faulkner Point Homeowners Association, Inc.) manages common areas and enforces rules. This document sets out the rights, restrictions, and obligations for all unit owners.

• What you own & maintain: You own the interior of your unit (walls, floors, fixtures, appliances) and an undivided percentage interest in the common elements. The association maintains common areas, limited common elements (parking spaces, patios/balconies) are reserved for specific units. You must maintain your unit and comply with rules.
• Leasing & rentals: Leases must be in writing, for the entire unit (no partial leases), and cannot be for hotel or transient purposes. A copy of each lease must be provided to the board. The lease must bind the tenant to all declaration and bylaw obligations. The unit owner remains responsible for compliance.
• Pets: No animals, livestock, or poultry are allowed except ordinary household pets (dogs, cats, fish, birds). Up to 2 pets per household is the ordinary limit, but the association may allow more or fewer. Pets must be kept on a leash or in an approved enclosure. Owners are liable for any damage or nuisance caused by their pets.
• Assessments & fees: All owners pay common assessments (monthly fees) equally per unit. Special assessments may be levied for capital improvements or unexpected costs with approval of two-thirds of owners voting. Assessments are a lien on the unit. The initial maximum monthly assessment is set in the declaration (specific number not provided in this excerpt).
• Use & occupancy restrictions: Units may only be used for residential purposes, with incidental home office use allowed. No signs, no commercial vehicles, no recreational vehicles, no outdoor storage, and no nuisance activities are permitted. Parking is limited to designated spaces; inoperable vehicles and large commercial vehicles are prohibited.
• Alterations & additions: No alterations to common elements without board approval. Unit owners may alter interior walls, but any changes affecting common elements (e.g., joining two units) require board consent and must be restored if units are separated. The developer reserved the right to adjust unsold units' size and layout (Paragraph 2.10).
• Annexation of additional phases: The developer reserved the right for three years from the original recording (1980) to annex up to three additional phases of land, merging them into the same condominium regime. Annexed phases must conform to the same restrictions. This provision allowed expansion to the current size (76 units were later added via the supplemental declaration).

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.