63-65 Graves Avenue Condominium

Key facts from 63-65 Graves Avenue Condominium's documents

Community type

Condominium

Legal name

63-65 GRAVES AVENUE CONDOMINIUM

Governing law

Massachusetts General Laws Chapter 183A (Section 1: 'the provisions of Chapter 18)

Collections & liens

Unit Owner's share of common expenses constitutes a lien on the unit with priority over all liens except municipal liens and first mortgages of record. Fees, late charges, fines, interest are subordinate to first mortgages. A lien is not af (Section 9(g) final paragraph (lien prior)

Reserves & fees

Required: adequate reserve fund for maintenance, repairs, replacement of common elements that must be replaced periodically; to be funded by regular installments and deposited in separate account from operating funds (Section 9(e): 'an adequate reserve fund )

Use restrictions

Units are intended only for residential purposes; no other use without prior written consent of Trustees (Section 6: 'The Units are intended only )

Voting & meetings

Based on proportionate percentage interest in common areas (Unit 1: 50%, Unit 2: 50% per Schedule B); 100% vote required for amendments; special actions require 66 2/3% of first mortgagees votes plus 100% unit owner votes (Section 7 (100% vote), Section 9(g) (mor)

Amendments

Requires 100% vote of all Unit Owners in person or by proxy at a meeting or in writing; also requires Declarant's signature while Declarant owns a unit; amendment must be recorded within 6 months of first signature; any alteration of a Unit (Section 7 (full text) and Section 7(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.