Covenants Term
Special Assessment
A one-time charge levied outside the regular budget, typically for a capital project or a shortfall. Procedures and any owner-approval requirements are defined in the governing documents.
Covenant and governance terms come from the recorded documents that bind every lot: what may be built, what is owed, and how standards are administered.
For the wider treatment of this subject, read The Covenant Living Guide. Definitions here are general editorial explanations of common usage — they are not legal definitions and do not interpret any specific recorded document. See Disclosures.
Nearby Language
Related terms.
- Variance
A discretionary, usually written exception to a stated standard, granted for a specific property and set of facts. A var…
- Setback
The minimum required distance between a structure and a property line, street, or feature. Both the county and the coven…
- Plat
The recorded survey map showing lot lines, easements, common areas, and rights-of-way for a subdivision. It is the autho…
- Easement
A recorded right for someone other than the owner to use part of a lot for a defined purpose — drainage, utilities, acce…
- Resale Certificate / Statement of Unpaid Assessments
The disclosure package a buyer typically requests before closing, showing assessment status, governing documents, and an…
- Estoppel
A written association statement confirming the assessment and compliance status of a lot as of a date, relied on at clos…
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