Live Oak Lofts

What Live Oak Lofts's governing documents say

This is the Declaration of Condominium for Live Oak Lofts Condominium, a 114-unit condominium in Dallas, TX. It establishes the legal framework for unit ownership, shared common elements, and the association's authority. The document binds all unit owners and occupants.

• What you own & maintain: You own the interior of your unit as defined by walls, floors, and ceilings, plus an undivided interest in common elements (hallways, pool, parking areas, etc.). Limited common elements like assigned parking and storage spaces are for your exclusive use but maintained by the association.
• Assessments & fees: Annual and special assessments are levied per unit based on undivided interest percentages. Special assessments over $300/year per unit require a majority vote. Late fees (10% or $10) and 10% annual interest apply. The association can lien, suspend common element use, and cut utilities for delinquencies.
• Insurance: The association carries a master hazard policy (all-risk or fire/extended) for full replacement cost of improvements. Owners must insure personal property and interior improvements not covered by the master policy. Deductibles for losses are paid by the responsible owner(s).
• Architectural review: During declarant control, no architectural committee exists; after, an Architectural Control Committee (or the Board) must approve exterior changes, alterations, or construction, including painting and landscaping.
• Limited common elements (parking & storage): Units may have assigned parking and storage spaces as limited common elements, shown on exhibits. These can be reallocated by amendment with owner and Board approval. The association can deny access to delinquent owners' parking spaces.
• Maintenance responsibility: The association maintains common elements and limited common elements. Owners maintain their units and interior systems. The association may enter units for maintenance or emergencies.

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.