Palazzo Malaga Condominium Association, Inc.

Key facts from Palazzo Malaga Condominium Association, Inc.'s documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1: "The name by which this Condo)

Governing law

Chapter 718, Florida Statutes (Condominium Act) (Section 2(n): "Condominium Act. Chapter )

Assessments & dues

Board of Directors estimates Common Expenses and assesses Unit Owners in proportion to undivided share (1/3 each). (Section 8(a): "Each Unit in Condominium )

Special assessments

Allowed, collected by Board as needed, subject to same lien and collection procedures. (Section 14(a): "power to make and collec)

Collections & liens

Association has a lien on each Condominium Parcel for unpaid assessments, costs, attorney's fees, and interest. Lien relates back to recording of Declaration; for first mortgages, effective after recording claim of lien. Association may for (Section 14(e): "The Association has a li)

Reserves & fees

Mentioned as part of Common Expenses; funds used for purposes reserved unless approved by majority vote. (Section 2(i): "all reserves required by )

Leasing & rentals

Implied; Developer may rent or lease unsold units. No specific restriction on owners. (Section 7: "the right to sell, rent or l)

Parking & vehicles

Easements for pedestrian and vehicular traffic, parking on Common Elements as intended. No specific rules provided. (Section 6(h): "for pedestrian and vehicu)

Architectural approval

Yes, for alterations affecting exterior appearance. (Section 15(b): "no such maintenance repa)

Signs & flags

Developer may erect signs during sales period. No general rule for owners. (Section 7: "the right to ... erect signs)

Maintenance

Association responsible for roof repairs/replacements. (Section 15(a)(ii): "the roofs of the Bui)

Insurance

Casualty insurance for fire and extended coverage; public liability; workers' compensation; flood insurance; fidelity bonds. Covers Condominium Property, Common Elements, Limited Common Elements, Units for full replacement value. Named insu (Section 17(a) and (b).)

Use restrictions

Not explicitly stated in the provided excerpts; but implied as condominium with residential units. (General context; not directly cited.)

Voting & meetings

One vote per Unit; husband and wife can vote either; other co-owners must designate a voting Unit Owner; failure to file deprives vote at meeting. Each Unit Owner may cast one vote for each Unit owned. (Section 11(c): "A Unit Owner or Unit Own)

Amendments

By 2/3 vote of Unit Owners (with limitations for Material Amendments requiring joinder of affected owners and mortgagees). Developer may amend alone during control period except for timeshare or Material Amendments. Corrective amendments by (Section 12.)

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