Gull Point Condominium

Key facts from Gull Point Condominium's documents

Community type

condominium (Declaration, p. 2, recitals: submits pro)

Legal name

Gull Point Condominium

Units / lots

Stage I: 30 units; future proposed: up to 136 units; total potential: up to 166 units (Declaration, p. 13, paragraph 7: "up to )

Governing law

Delaware Unit Property Act, 25 Del. C. § 2201 through § 2240 (Declaration, p. 6, definition of "Unit P)

Home business

Prohibited: no industry, business, trade, occupation, or pursuit shall be conducted, maintained, or permitted on any part of the property except by developer as provided (Declaration, p. 26, Section 14(e))

Signs & flags

"For Sale" or "For Rent" signs may be maintained or permitted on any part of the property or in any unit with the written consent of the Council. Developer may place signs on unsold or unoccupied units; mortgagee who becomes owner of a unit (Declaration, p. 26, Section 14(e))

Use restrictions

Yes, units shall be used solely for residential purposes (Declaration, p. 18, paragraph 12: "shall)

Voting & meetings

Based on percentage interests in common elements as set forth in Schedule B (Stage I) and Schedule C (future stages); reallocated upon annexation (Declaration, pp. 16-17, paragraphs 10(a))

Amendments

Amendments require approval in writing by mortgagee or mortgagees holding mortgages constituting first liens on more than fifty percent (50%) of the Units subject to mortgages. Any amendment of percentage interests in common elements requir (Declaration, p. 33, Section 25)

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