Tennessee Associations and Real Estate Taxes
December 16, 2013
How common areas and general common elements are treated for real estate tax purposes is often a concern for Tennessee associations. It should be noted that common areas are found in homeowners associations, and general common elements are found in condominium associations. Common areas are typically conveyed to the association. Consequently, the association owns the…
READ MOREAssessments, Reserves, and Maintenance Obligations
December 2, 2013
The biggest concern we often hear about at association meetings is assessments. Association members are right to be concerned about the cost of maintaining their association. That being said, often there seems to a disconnect between the realities of the amount of the assessments and what the assessments are for. Simply put, many associations appear…
READ MOREAmending Association Documents
November 4, 2013
Often we are asked about amendments to CCRs, master deeds, or bylaws. An amendment to a master deed, CCRs, or bylaws is fairly simple. It is a document that alters or otherwise changes a provision in the existing document. The amendment may add, delete, or substitute language or exhibits in a master deed, CCRs, or…
READ MORELeasing Restrictions/Prohibitions and Tennessee Associations
October 7, 2013
May a homeowners or condominium association restrict the leasing of property within the bounds of the residential development encumbered by the CCRs or Master Deed? This has long been an unanswered question in Tennessee. On January 30, 2013, the Tennessee Court of Appeals rendered a decision in The Preserve at Forrest Crossing Townhome Association, Inc.,…
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