The Declaration of Covenants, Conditions & Restrictions (“deed restriction”) is the legal document that lays out the self-imposed, legal rules for the Lockeridge Farms Community. This document is recorded with the Montgomery County Courts and is legally binding for the entire association. This means that when we purchased a home/lot in Lockeridge Farms, we automatically became 1 of 188 members in the Homeowner Association (HOA) who is legally bound by these rules. They govern what we, as residents and members can, cannot, or must do with respect to our Lot.
For example: Article III, Sec. 1 reads…
“Each and every person, persons, or legal entity who shall own any Lot or any Residential Land in the Property, shall automatically be, and must remain, a Member of the Association. Such membership shall be appurtenant to each Lot and may not be severed from or held separately therefrom; PROVIDED, that any person or entity who holds such an interest merely as security for the performance of any obligation shall be be a Member.”
The objective is to preserve community property values and to gain a friendly consensus to correct any violations, not to impose penalties. If we, as Association members, repeatedly violate our own self-imposed rules, then our Board of Directors is required to impose penalties to compel compliance on behalf of the entire association. If violation fines are not paid, then the deed to the home will be legally restricted from sale until the fines are paid in full to the Homeowners Association. Hence, the term “deed restriction”.
See the Rest of Our Guidelines
View: HOA Restrictions Document
View: Admendment to HOA Restrictions Document
The Declaration of Covenants, Conditions & Restrictions (“deed restriction”) is the legal document that lays out the self-imposed, legal rules for the Lockeridge Farms Community. This document is recorded with the Montgomery County Courts and is legally binding for the entire association. This means that when we purchased a home/lot in Lockeridge Farms, we automatically became 1 of 188 members in the Homeowner Association (HOA) who is legally bound by these rules. They govern what we, as residents and members can, cannot, or must do with respect to our Lot.
For example: Article III, Sec. 1 reads…
“Each and every person, persons, or legal entity who shall own any Lot or any Residential Land in the Property, shall automatically be, and must remain, a Member of the Association. Such membership shall be appurtenant to each Lot and may not be severed from or held separately therefrom; PROVIDED, that any person or entity who holds such an interest merely as security for the performance of any obligation shall be be a Member.”
The objective is to preserve community property values and to gain a friendly consensus to correct any violations, not to impose penalties. If we, as Association members, repeatedly violate our own self-imposed rules, then our Board of Directors is required to impose penalties to compel compliance on behalf of the entire association. If violation fines are not paid, then the deed to the home will be legally restricted from sale until the fines are paid in full to the Homeowners Association. Hence, the term “deed restriction”.