8-10 Walnut Lane Condominium Trust

Key facts from 8-10 Walnut Lane Condominium Trust's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

8-10 Walnut Lane Condominium Trust

Developer / declarant

Angelo Scippa

Governing law

Massachusetts General Laws Chapter 183A (Article II Section 2.1)

Assessments & dues

Trustees estimate common expenses at least 30 days before fiscal year, determine assessments based on beneficial interest, render statements due within 30 days. (Section 5.5)

Special assessments

Supplemental assessments allowed if common expenses exceed initial estimate or likely to be incurred. (Section 5.5)

Collections & liens

Unpaid common expenses constitute a lien on the unit, enforceable per Chapter 183A. (Section 5.5)

Reserves & fees

Common expenses shall include an adequate reserve fund for maintenance, repair, replacement of common elements. Trustees may also set aside funds for debt reduction. (Section 5.4a)

Pets

Yes, up to 2 domestic pets (cat or dog) per unit, provided they do not interfere with other owners' use and enjoyment. (Exhibit B, Rule 11)

Architectural approval

Prior written approval of Trustees required for any improvement altering exterior appearance or structure, including partition or combination of units. (Section 5.6)

Maintenance

Unit owners responsible for maintenance and repair of their units and routine maintenance of exclusive use common areas. Trustees responsible for maintenance, repair, replacement of common elements. (Section 5.2, Section 5.3)

Insurance

Fire and extended coverage, replacement cost, 100% insurable value, all risk, comprehensive public liability ($1,000,000 per occurrence), fidelity/errors and omissions, workmen's compensation. (Section 5.8)

Voting & meetings

Unit owners vote in proportion to their beneficial interest (50% each). Trustee removal requires 100% vote. Amendment requires 100% vote. (Section 4.2, Section 3.5, Section 7.1)

Amendments

By Trustees with written consent of 100% of unit owners and, for material changes, mortgagees of record. Also Declarant may record special amendments for compliance purposes until no longer holds any unit. (Section 7.1)

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