Coin Beach

Key facts from Coin Beach's documents

Reflects the 1985 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Section 1, 'create a plan of condominium)

Legal name

Coin Beach

Developer / declarant

P. C. Fenwick, Inc.

Governing law

Delaware Unit Property Act (25 Del. C. § 2201 et seq.) (Section 1)

Reserves & fees

Repair and replacement reserves may be established by the Council as part of common expenses (Section 2(e)(2))

Leasing & rentals

Units may be leased for residential purposes (Section 7(a))

Parking & vehicles

Prohibited in parking areas (Section 7(m), 'excluding especially, tru)

Architectural approval

Prior written approval of Council required for changes to exterior appearance, common elements, and exposed elements (Section 7(f), 7(g), 7(i))

Home business

No industry, business, trade, occupation or pursuit designed for profit shall be conducted (Section 7(e))

Signs & flags

For Sale or For Rent signs allowed with Council approval; no other signs without prior written consent of Council (Section 7(e) and 7(j))

Maintenance

Common element – part of common elements maintained by Association (Section 6(g))

Insurance

Premiums for insurance policies required to be purchased by the Council are common expenses (Section 2(e)(5))

Use restrictions

Each unit shall be used solely for residential purposes (Section 7(a))

Voting & meetings

Based on percentage interest in common elements; majority = owners of more than 50% of aggregate percentage interest (Section 2(k) and Section 15)

Amendments

75% vote of unit owners in person or proxy; requires written approval of mortgagees holding first liens on more than 75% of units subject to mortgages; percentage interest change requires unanimous consent of all unit owners (Section 17)

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