Chipman Street Condominium

Key facts from Chipman Street Condominium's documents

Community type

condominium (Section 2.1)

Legal name

81 Chipman Street Condominium

Units / lots

Presently twelve (12) units, maximum twenty (20) units (Section 4.1)

Governing law

Common Interest Ownership Act, Chapter 828 of the Connecticut General Statutes (Section 1.1)

Assessments & dues

Executive Board adopts budget; ratified by majority of Unit Owners at meeting; if rejected, prior budget continues (Section 19.5)

Special assessments

Assessment not in budget exceeding 15% of current annual operating budget requires ratification by Unit Owners in same manner as budget (Section 19.6)

Reserves & fees

Fidelity bond must cover reserve funds; but no specific reserve fund requirement mentioned (Section 22.4)

Leasing & rentals

Leasing allowed; minimum lease term of 90 days; lease must be in writing and subject to Documents and Association requirements (Section 10.2)

Parking & vehicles

Garages and carports are for storage of vehicles and parking, excluding trucks, commercial vehicles, and campers (Section 10.1(b))

Architectural approval

Unit Owner must obtain Executive Board approval before changing exterior appearance of Unit or Common Elements (Section 13.1(a)(2))

Home business

Home professional pursuits not requiring regular public visits or unusual levels of mail, shipping, trash or storage are allowed (Section 10.1(a))

Maintenance

Unit Owner maintains Unit (except portions maintained by Association); Association maintains Common Elements; Limited Common Elements maintained by Unit Owner as specified (Sections 6.1, 6.2, 6.3)

Use restrictions

Each Unit restricted to residential use as a single-family residence (Section 10.1(a))

Voting & meetings

Each Unit has one equal vote (Section 9.2(c))

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