Special Notice

Reata Estates’ restrictive covenants give the board of directors power to place a lien on property plus the option of foreclosure.

Background

Each lot within Reata Estates is subject to annual and special assessments as defined in the restrictive covenants of Reata Estates.  Each property owner in Reata Estates is bound by the covenants and has legal responsibility to pay annual and special assessments. Article III states in part “members shall be entitled to one vote for each Lot . . . ”.  Each lot is treated as a separate and equal entity, and therefore the owner of each lot has an equal and undivided 1/82nd ownership of Reata Estates.  When a person owns more then one lot, they assume the responsibilities and encumbrances for each lot; including lot maintenance, plus annual and special assessments.

Assessments that are not paid when due are subject to interest and late fees.

Policy and Procedures

Reata Estates Association, Inc. will follow the collection procedures outlined below to collect annual and special assessments. In the process, each member will be treated fairly, equally, and with dignity and respect at all times.

Collection Procedure for Annual Assessments

Collection Procedure for Special Assessments