Meadowcroft Condominium Association, Inc.

Key facts from Meadowcroft Condominium Association, Inc.'s documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration title and Article 1.1)

Legal name

MEADOWCROFT CONDOMINIUM ASSOCIATION, INC. (Article 2.4, BK 1828 PG 7666, page 3 of )

Units / lots

294 (Article 5.2, BK 1828 PG 7671, page 8 of )

Governing law

Florida Condominium Act (Chapter 718, Florida Statutes) (Article 2.1, BK 1828 PG 7666, page 3 of )

Age restriction

Yes. Community designed for older persons. At least 80% of units must be occupied by at least one person 55 years or older. Exceptions for health care professionals, surviving spouses, and children of deceased owner (but no permanent occupa (Article 9.2, BK 1828 PG 7676-7677, pages)

Assessments & dues

By Association Board based on annual budget. Each unit owner pays proportionate share based on square footage. (Article 10.1, Article 4.5, BK 1828 PG 76)

Special assessments

Allowed for Common Expenses that cannot be paid from annual assessments. Requires Board approval and 30 days' notice. (Article 10.3, BK 1828 PG 7680, page 16)

Collections & liens

Association has lien on each condominium parcel for unpaid assessments, interest, attorneys' fees. Lien perfected by recording Claim of Lien. Right to accelerate unpaid balance. Foreclosure action allowed. (Articles 10.8, 10.9, 10.10, 10.11, BK 18)

Reserves & fees

Not explicitly mentioned.

Pets

Yes, one pet per unit (dog or cat) not exceeding 25 pounds at maturity. No exotic pets, dangerous pets, or farm animals. Aquarium fish and small birds allowed in addition. (Article 8.4(D), BK 1828 PG 7675, page 12)

Leasing & rentals

Yes, but with restrictions. Owner may not rent for less than 30 days or to more than four separate tenancies per calendar year without Board consent. Subleasing prohibited without prior written approval. Board approval required for any leas (Articles 9.3, 12.1, BK 1828 PG 7677, pag)

Architectural approval

Yes. Board or its authorized committee must approve in writing all sales, transfers, leases, and occupations. Also approval for alterations to any unit or common elements. (Article XII, Articles 6.4, 8.4(E),(H), B)

Home business

Not explicitly prohibited but residential use only implies no business. (Article 8.4(C), BK 1828 PG 7675, page 12)

Maintenance

Association maintains roofs unless specifically assigned to unit. Lanai roof maintained by unit owner. (Article 6.3(B), BK 1828 PG 7673, page 9)

Insurance

Association purchases property insurance on buildings and improvements for maximum insurable replacement value excluding foundation and excavation. Coverage includes fire, extended coverage, vandalism, malicious mischief, and other risks. A (Articles 11.2, 11.3, 11.4, 11.5, 11.6, B)

Use restrictions

Yes. Each unit shall be used as a single-family residence and for no other purpose. (Article 8.4(C), BK 1828 PG 7675, page 12)

Voting & meetings

Each Unit entitled to one vote. Multiple owners must designate one to vote. Failure to execute form disqualifies unit from voting unless all owners present and concur. (Article 8.2, BK 1828 PG 7674, page 11 of)

Amendments

Amendments may be proposed by Board or by petition of 51% of voting interests. Submitted to vote at next meeting. Amendment requires either unanimous Board approval or majority of Board and majority of unit owner voting interests. Additiona (Article XVII, BK 1828 PG 7691-7692, page)

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