Lake Vista Ranch Homeowners' Association, Inc.

What Lake Vista Ranch Homeowners' Association, Inc.'s governing documents say

This is an assessment collection policy for the Lake Vista Ranch Homeowners' Association, a single-family HOA in Richardson, TX. It governs how the HOA collects regular and special assessments from homeowners, including late fees, interest, payment plans, and collection procedures. This document is ancillary—it does not contain the full HOA rules, only the financial collection rules.

• Assessments & due dates: Regular assessments are due on the first calendar day of the month they are charged, and any unpaid assessment becomes delinquent. The HOA may charge late fees and interest at the highest rate allowed by law.
• Late fees & returned checks: A $30 fee is charged for any returned check (e.g., insufficient funds or stop payment). Late fees and interest accrue from the late date until paid in full.
• Payment plans: The HOA must offer a payment plan with a minimum term of 3 months and a maximum of 18 months from the date requested, with reasonable administrative costs and interest. If you are in default when you request a plan, the HOA is not required to follow the standard payment application order.
• Collection procedures: If you don't pay, the HOA may send delinquency notices, obtain a title search, notify your mortgage lender, refer the account to an attorney, and record a lien against your home. You are liable for all collection costs, including attorney's fees and title report fees.
• Suspension of amenities: If your account is delinquent for at least 30 days, the HOA may suspend your use of common area amenities, and this can also apply to your tenants.
• What this document doesn't cover: This is only the assessment collection policy. It does not include the full HOA covenants, restrictions, or rules about property use, architectural review, pets, or other community standards.

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.