Covenants Form With The Instrument Of Desire In Arizona
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Description
The Covenants form with the instrument of desire in Arizona is a legal document outlining the covenants, conditions, and restrictions placed on a residential subdivision by the Homeowner's Association. It aims to maintain property values and the desirability of the subdivision by requiring compliance from all property owners. This form specifies that ownership of property in the subdivision confers mandatory membership in the Association, binding owners to the terms of the Agreement, including rules established by the Association. It allows for modifications to the covenants with a 75 percent consent from owners and is subject to local, state, and federal laws. The document serves as a mechanism for enforcing property rules through legal means. Additionally, it provides guidelines for membership transfer and termination of the Agreement after a stated period. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form to ensure compliance with subdivision regulations, to draft or amend existing covenants, and to facilitate property transactions within the subdivision.
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