115-117 South Riverview Street Condominium

Key facts from 115-117 South Riverview Street Condominium's documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

115-117 South Riverview Street Condominium

Developer / declarant

RFACO, LLC

Governing law

Massachusetts General Laws Chapter 183A (Master Deed page 1, Section 1)

Assessments & dues

Board prepares estimate of cash requirement within 30 days prior to annual meeting; assessment equally to Unit Owners; payable in equal monthly installments (By-Laws VIII.A.1)

Special assessments

Board may levy further assessment if estimate inadequate; also for specific costs such as maintenance of Limited Common Area or enforcement work (By-Laws VIII.A.1, VIII.C.8)

Collections & liens

Unpaid assessment becomes lien upon recordation of notice; priority over other liens except tax liens and first mortgage; may be enforced by sale by Board or authorized entity (By-Laws VIII.B.1, VIII.B.3)

Reserves & fees

Estimate may include provision for reserves; resale certificate includes status of reserves (By-Laws VIII.A.1, X.c)

Pets

Yes, each Unit Owner may keep one pet (Master Deed Section 9)

Leasing & rentals

Yes, Unit Owner may rent unit with written lease subject to governing documents (Master Deed Section 9; By-Laws XI)

Fences

Fence may be erected separating Common Area only if all unit owners agree (Master Deed Section 8)

Architectural approval

Any changes affecting exterior or structural characteristics require approval of Board; interior structural changes require 100% unit owner approval; roof, exterior color, siding, architectural design changes require 100% approval; storm do (Master Deed Section 8)

Maintenance

Association maintains Common Areas; Unit Owners maintain interior of units and Limited Common Areas (e.g., decks, porches, parking spaces); Board may require owner to maintain Limited Common Area (By-Laws II.A.1, II.B.2, VIII.C.6; Master)

Insurance

Association obtains insurance for Condominium; each Unit Owner required to maintain separate hazard insurance for full insurable replacement value of common area attributable to their Unit (By-Laws II.A.9, VIII.C.2)

Use restrictions

Each Unit restricted to residential use by Unit Owner (Master Deed Section 9)

Voting & meetings

One vote per Unit; multiple owners must vote unanimously; proxy allowed; Association actions require 100% consent; Directors actions require 100% consent (Master Deed Section 3; By-Laws IV.A.3, I)

Amendments

Master Deed amendment: While Declarant owns at least one unit, Declarant can amend with consent of majority of first mortgage holders; thereafter, 100% unit owner vote and first mortgage holder consent; change in percentage interest require (Master Deed Section 14; By-Laws XII.A)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.