Royal Stone Condominium

Key facts from Royal Stone Condominium's documents

Community type

condominium (Section 3: 'The common interest Communit)

Legal name

Royal Stone Condominium Association, Inc. (Section 2.3; Article III)

Units / lots

Eight (8) Units as of the date of the Public Offering Statement (Section 3; Declaration Section 5.1)

Governing law

Common Interest Ownership Act, Public Act 83-474, Connecticut General Statutes (Article I; Section 2.1)

Assessments & dues

Common Expenses allocated to each Unit based on relative floor area compared to all Units, excluding attics, cellars and garages; certain Common Expenses may be apportioned to particular Units under Article XVIII (Section 8.2(b))

Special assessments

Special assessments require ratification by Unit Owners per Article XVIII Section 18.6; Units 19, 20 and 21 additionally assessed for fuel and electricity for Units sharing the same heating and electrical system (Section 5 NOTE; Article XVIII TOC)

Collections & liens

Association has lien for unpaid Common Expense Assessments per Article XVIII Section 18.4 (Article XVIII TOC)

Reserves & fees

Reasonable reserves, whether held in trust or by the Association, for repair, replacement or addition to Common Elements or other real or personal property acquired by the Association, are part of Common Expenses (Section 2.6)

Pets

No animals, livestock or poultry may be raised, bred or kept, except that a Unit Owner may have a dog, a cat or a caged bird upon approval of the Executive Board (Section 9.1(e))

Leasing & rentals

Unit Owners and Declarant may rent their Units from time to time, provided each Unit is used only for residential purposes (page 3)

Parking & vehicles

No Unit shall have parking spaces assigned to it; parking spaces may be allocated by the Association as Limited Common Elements; garages are Limited Common Elements limited to Units assigned in Schedule A-2 (Section 6.1(e),(f); Article XI)

Architectural approval

Unit Owner may make interior alterations that do not impair structural integrity or mechanical systems; may not change the appearance of Common Elements or exterior appearance of a Unit without Executive Board permission (Section 12.1)

Home business

No industry, business, trade, occupation or profession of any kind, including commercial, religious or educational, may be conducted on any part of the Property (Section 9.1(h))

Signs & flags

No signs, awnings, canopies, shutters or radio/television antennas may be affixed to exterior walls or roofs without prior Executive Board consent; Declarant may post signs/displays in Common Elements to promote sales (Section 9.1(d); Section 7.7)

Maintenance

Unit Owner is obligated to maintain his own Unit and keep it in good order and repair; Association is in charge of much of the repair of the Condominium (Section 14(b); page 2)

Insurance

Master property coverage of at least $480,000 for all buildings including certain fixtures; comprehensive public liability coverage of at least $2,000,000 insuring Association and each Unit Owner (Section 15)

Use restrictions

Each Unit shall be occupied as a residence only; no transit, hotel or commercial purposes (Section 14(a); Section 9.1(a))

Voting & meetings

Each Unit shall have one equal vote (Section 8.2(c))

Amendments

Declaration amendments require approval by vote of at least 67% of Unit Owners of Units to which at least 67% of votes are allocated; must be recorded in every town where property situated and are effective on recordation; certain changes r (Sections 14.1, 14.3, 14.4, 14.6)

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