Tranquillity on the Beach

Key facts from Tranquillity on the Beach's documents

Community type

Condominium

Legal name

Tranquillity on the Beach Owners Association, Inc.

Developer / declarant

Tranquillity on the Beach Corporation

Governing law

Chapter 718, Florida Statutes (Section 1)

Special assessments

Any assessment other than annual budget assessment (Section 2P: 'Special Assessment means an)

Collections & liens

Association has lien on each condominium parcel for unpaid assessments; may foreclose (Section 5F, 5G)

Reserves & fees

Required for capital expenditures >$10,000; reserves for painting, pavement, roof, pool (Budget Notes, Page 80)

Leasing & rentals

Only entire Units may be leased (Section 9E)

Parking & vehicles

One parking space per unit as limited common element; additional spaces available; each unit entitled to at least one space without charge (Section 4C(3) and 4C(4))

Architectural approval

Board approval required for alterations to portions of building maintained by Association and for exterior changes (Section 4E(1)(c) and 4E(1)(b)(iii))

Maintenance

Association maintains exterior, structural, common elements; unit owners maintain interior and limited common elements (Section 4E(1) and (2))

Insurance

determined by Board to obtain reasonable cost (Section 7B(1): 'with such deductible cla)

Use restrictions

Units may be used for residential purposes only, either permanent or transient (Section 9A)

Amendments

Amendments require approval of 2/3 of units, or 2/3 of directors before first election if no unit increase or boundary change (Section 13B)

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