Op Lisa Court Condominium

Key facts from Op Lisa Court Condominium's documents

Reflects the 1987 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Art. II, §2.1)

Legal name

Lisa Court Condominium Association, Inc. (Art. I, §1.3)

Units / lots

22 currently, maximum 68 (Art. IV, §4.1)

Developer / declarant

Tedesco Builders, Inc., a Connecticut Corporation (Preamble and Art. I, §1.8)

Governing law

Common Interest Ownership Act, Chapter 828 of Connecticut General Statutes, as amended (Art. I, §1.1)

Assessments & dues

Executive Board adopts a proposed budget; summary provided to Unit Owners; meeting held for ratification within 14-30 days of mailing; if rejected by a majority of all Unit Owners, the last ratified budget continues (Art. XIX, §19.5)

Special assessments

Any non-budgeted special assessment exceeding 15% of the current annual operating budget must be submitted to Unit Owners for ratification in the same manner as a budget (Art. XIX, §19.6)

Collections & liens

Association has a lien on a Unit for unpaid assessments, late fees, fines, and interest. Lien is prior to all other liens except: (1) pre-Decaration liens; (2) first or second Security Interests recorded before the assessment became delinqu (Art. XIX, §19.4)

Reserves & fees

Reserves for repair, replacement, or addition to the Common Elements or other property may be established by the Association (Art. XIX, §19.1(d))

Leasing & rentals

Yes, but subject to a minimum term of 90 days and compliance with Documents and Association requirements; no time-share conveyances (Art. X, §10.2)

Architectural approval

Unit Owner may not change the appearance of the Common Elements or exterior appearance of a Unit without permission of the Executive Board. Interior alterations that do not impair structural integrity do not require approval. (Art. XIII, §13.1(a)(2))

Home business

Home professional pursuits not requiring regular visits from the public or unreasonable levels of mail, shipping, trash, or storage are permitted; no sign indicating commercial or professional uses may be displayed outside a Unit (Art. X, §10.1(a))

Insurance

Property insurance covering all buildings (project facilities) for 100% replacement cost, 'all risks' coverage; also personal property of the Association at actual cash value (Art. XXII, §22.2(a),(b),(c))

Use restrictions

Each Unit is restricted to residential use as a single-family residence (Art. X, §10.1(a))

Voting & meetings

One equal vote per Unit (Art. IX, §9.2(c))

Amendments

Declaration may be amended by vote of Unit Owners having at least 60% of the votes in the Association (unless unanimous consent is required by §15.4). Amendments must be recorded. Certain changes require unanimous consent of Unit Owners (e. (Art. XV, §15.1 and §15.4)

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