The Lofts at St. Stephen's Condominiums

Key facts from The Lofts at St. Stephen's Condominiums's documents

Community type

Condominium

Legal name

The Lofts At St. Stephen's Condominiums

Developer / declarant

St. Stephen's Place, a Texas limited liability company

Governing law

Texas Uniform Condominium Act (TUCA), Chapter 82 Texas Property Code (Recitals paragraph 2; Section 1.01)

Assessments & dues

Set each year by Board based on estimated cash requirements; no fixed amount stated (Section 5.02)

Special assessments

May be levied if Board determines regular assessments inadequate; must be approved as in regular assessments; special assessments on Limited Common Elements may be against benefiting owners only (Section 5.04)

Collections & liens

Association has a lien on each unit for assessments, may enforce by judicial or nonjudicial foreclosure under Texas Property Code §51.002; lien subordinate to first mortgage liens (Section 5.09)

Reserves & fees

Association shall establish Reserve Funds for replacements funded by regular assessments; initial fund collected at sale; may not be used by Declarant for deficits (Section 5.03)

Home business

Allowed if permitted by City of Austin Zoning Code (Section 3.01)

Use restrictions

Units shall be used only for residential purposes, including home occupations permitted by Austin Zoning Code (Section 3.01.1)

Voting & meetings

One vote per Unit; if multiple owners, majority controls; tied vote splits half (Section 4.03)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.