Lake View Farm
Homeowners association — you own your lot and home; the association maintains common areas and enforces covenants.
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What Lake View Farm's governing documents say
Lake View Farm is a single-family home HOA in Prosper, TX. The governing document is the Declaration of Covenants, Conditions and Restrictions (CC&Rs) that apply to all lot owners. Owners pay annual assessments that fund maintenance of common elements, and the HOA has the right to levy special assessments. The association maintains common areas and may, under certain conditions, maintain exterior improvements on lots.
- Assessments & liens: Annual assessments are set by the Board, initially capped at $50 per lot per year (2006 version), and can be increased by a two-thirds vote of members. Unpaid assessments bear 9% annual interest and become a lien on the lot, enforceable by foreclosure. Special assessments may be levied for capital improvements or emergencies with a two-thirds vote.
- Exterior maintenance: The association may (but is not obligated to) paint, repair, or replace exterior improvements on lots, including roofs, gutters, and landscaping, but only in emergencies or if two-thirds of members agree. Owners are responsible for their own exterior maintenance unless the association opts in.
- Dispute resolution: If the association believes an owner violated the covenants, it first notifies the owner in writing. If not remedied within 10 days, the association may sue or submit to binding arbitration under the American Arbitration Association rules, with each side choosing an arbitrator.
- Membership & voting: Each lot owner has one membership and one vote. When multiple owners hold a lot, they collectively have one vote. Voting may be suspended for unpaid assessments. The board consists of five directors elected annually by majority vote, and directors can be removed by a two-thirds vote.
- Amendments: The maximum annual assessment can be increased beyond the initial cap only by a two-thirds vote of all members at a meeting called for that purpose. Other amendments likely require similar supermajority, but specific amendment procedures are not fully readable.
Key facts from Lake View Farm's documents
- Community type
- Homeowners Association (HOA) (Title: 'LAKE VIEW FARM HOMEOWNER’S')
- Developer / declarant
- LAKE VIEW MHC LIMITED, a Texas limited partnership (Article I, Section 6)
- Assessments & dues
- Maximum Annual Assessment not fixed in this document; Board sets amount not exceeding maximum (amount not specified). Board may increase during year up to Maximum Annual Assessment. (Article VI, Section 3)
- Special assessments
- Association may levy Special Assessments with assent of 2/3 of Members (each class) for: (a) construction/reconstruction of capital improvements; (b) repair/restoration per Article VII Sections 4 & 7; (c) defraying deficit from previous yea (Article VI, Section 4)
- Reserves & fees
- Interest rate of 9% per annum or maximum allowed by law, whichever is less, on assessments unpaid after 30 days from due date. (Article VI, Section 7)
- Voting & meetings
- Each Owner has one vote per Membership (one Membership per Lot). If multiple owners of one Lot, they collectively have one Membership and must decide how to vote. Voting rights may be suspended for unpaid assessments. (Article IV, Sections 1-2)
About this HOA
Lake View Farm is a homeowners association in Prosper, TX.
HOAproxy has 2 documents on file for Lake View Farm: 2 recorded documents. Last updated 2026-07-22.