46 Cherry Street Trust

Key facts from 46 Cherry Street Trust's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (I. NAME OF TRUST: 'Cherry Street Condomi)

Legal name

Cherry Street Condominium Trust

Governing law

Massachusetts General Laws, Chapter 183A (Condominiums) (II. PURPOSES A.)

Assessments & dues

Not a fixed amount; determined annually by the Trustees based on estimated Common Expenses. Each Unit Owner pays one-half (1/2) of their share of the estimated Common Expenses monthly in advance on the first day of each month. (Text ambiguo (2D)

Special assessments

Yes, Trustees may make supplemental assessments if estimated expenses are insufficient. Also, improvements costing more than 10% of Condominium value and approved by 75% of Unit Owners can be assessed to all; dissenting owners may petition (2D (supplemental), 6B (improvements), 1()

Collections & liens

Unpaid assessments and interest constitute a lien on the unit under Chapter 183A §6 and Chapter 254 §§5,5A. Trustees may foreclose on the lien. A suit to recover a money judgment is also maintainable without foreclosing the lien. A first mo (2E, 2H)

Reserves & fees

Trustees shall establish and maintain an adequate reserve fund for periodic maintenance, repairs and replacement of improvements to common areas and facilities and limited common areas. Funded by regular monthly assessments. Additional rese (2A, 2C)

Pets

Yes. (23)

Home business

Accessory office and/or artist's studio use is allowed, subject to restrictions: no exterior signs, no visitation of business associates/clients/general public, no non-resident employees. (15A and 15B)

Signs & flags

No business, professional, commercial, or other signs are permitted on any part of the property, except a 'For Sale' sign not larger than four (4) square feet. (26)

Use restrictions

No unit shall be occupied for nonresidential purposes. However, accessory office and/or artist's studio use is permitted if allowed by applicable zoning. (15A)

Voting & meetings

Unit Owners vote according to their percentage of beneficial interest as set forth on Schedule A of the Master Deed. If a unit has multiple owners, they must designate one person to exercise voting rights. In absence of designation, Trustee (IV.B)

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