Ladera Prosper Condominium

What Ladera Prosper Condominium's governing documents say

Ladera Prosper Condominiums is a residential condominium community in Prosper, TX, intended for occupancy by persons aged 55 or older. You own your unit in fee simple and share ownership of common elements, which the association maintains. The association is governed by the Texas Condominium Act.

• Age restriction (55+): At least one occupant per unit must be 55 or older, and at least 85% of occupied units must meet this requirement. Exceptions include persons 18 or under for up to 90 days per year (with special needs allowance), and transfers due to death. The board may grant other exceptions and conducts age surveys every two years.
• What you own & maintain: You own the interior of your unit, including buildings and improvements within your unit boundaries. The association maintains general common elements (common areas, private streets, drainage structures) and provides landscape services for yard areas (mowing, weeding, fertilizing) as defined. You are responsible for maintaining your unit and any easements crossing it unless the association has express responsibility.
• Assessments: The association levies regular assessments for common expenses, as well as special, utility, individual, and deficiency assessments. Assessments create a lien on the unit, and nonpayment may result in interest, late fees, collection costs, suspension of voting rights, and assignment of rents.
• Architectural review: Exterior alterations or construction on your unit (including buildings, fences, patios, landscaping) require prior written approval from the Architectural Control Committee (ACC) or, after the development period, the board. No work may begin without approval.
• Leasing & rentals: The document includes an article on unit leasing (Article 13), but the specific terms (minimum lease duration, approval requirements) are not provided in this excerpt. Check the full declaration for leasing rules.
• What this document doesn't cover: This excerpt omits the full text of Articles 13 (Unit Leasing), 12 (Use Restrictions including pets and vehicles), and other operational details. The community manual may contain additional rules. The document is a partial version; the full declaration should be reviewed for complete requirements.

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.