14 Parker Street Condominium Trust

Key facts from 14 Parker Street Condominium Trust's documents

Reflects the 2011 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (14 Parker Street Condominium)

Legal name

14 Parker Street Condominium Trust

Developer / declarant

Sovereign Properties and Investments, LLC (Article II, Section 1: Declarant under t)

Governing law

M.G.L. Chapter 183A (Article II, Section 4: rights set forth )

Assessments & dues

Trustees present budget at annual meeting; establish common charges in proportion to percentage interest (Article III, Section 3: Trustees shall p)

Special assessments

Trustees may make special assessments for casualty losses or necessary capital expenditures. Improvements may be assessed if 75% of Unit Owners agree; if cost exceeds 10% of value, dissenting owner may seek court order. (Article IV, Section 4; Article II, Secti)

Collections & liens

If unpaid 60 days, Trustees may foreclose lien after 30-day notice; if unpaid 25 days and unit rented, Trustees may collect from tenant rent (Article IV, Section 3: If a Unit Owner’s)

Reserves & fees

Trustees shall set up replacement reserve fund; withdrawals require two signatures; reserves not deemed common profits (Article II, Section 11; Article III, Sec)

Leasing & rentals

Yes, with notice to Trustees and minimum lease term of six months (Article III, Section 4(c))

Parking & vehicles

Outdoor parking spaces shall not be used to store boats or recreational vehicles (Rule 4)

Architectural approval

Board of Trustees consent required for alterations to common elements; for signs; for any items on exterior walls or doors; for antennas (Rules 3, 5, 7)

Signs & flags

No sign on exterior without Board consent; one business name sign allowed in uniform style with Trustee approval; No 'For Sale', 'For Rent', 'For Lease' signs or window displays permitted. (Rules 3, 5, 6)

Voting & meetings

Each Unit Owner appoints one Trustee per unit; vote according to percentage interest. Declarant designates Trustees while owns majority of Units. (Article II, Sections 1 and 3)

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