Sailboat Square Condominium Association, Inc.

Key facts from Sailboat Square Condominium Association, Inc.'s documents

Reflects the 1998 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

SAILBOAT SQUARE CONDOMINIUM ASSOCIATION, INC.

Developer / declarant

SHANNON HOTEL GROUP, INC.

Governing law

Chapter 718, Florida Statutes (Condominium Act) (PAGE 1)

Assessments & dues

Board approves annual budget; unit's share based on proportionate share of Common Expenses (Para 14)

Special assessments

Allowed for unanticipated expenditures; proportional to Common Expense share; written notice required (Para 14)

Collections & liens

Association has remedies and liens under Condominium Act for unpaid assessments, including interest and attorneys' fees; acceleration to quarterly payments allowed (Para 14)

Reserves & fees

Required with application for sale; not to exceed maximum allowed by Chapter 718 (Para 13(a))

Leasing & rentals

Not explicitly restricted; transfer restrictions apply to sales only (Para 13 (sale only))

Home business

Office and professional purposes permitted; Unit 1 may include bank with drive-through; real estate brokerage restrictions apply (Para 9(a)(1), (2))

Maintenance

Association: common elements, limited common elements (except entrance sign for Unit 1), landscaping outside building. Unit owner: everything within unit not part of common elements, including exterior of improvements within unit boundaries (Para 10(a), (b))

Use restrictions

Not allowed; units for office and professional purposes only (Para 9(a)(1))

Voting & meetings

Majority of voting interests in person or proxy (Bylaws II.6)

Amendments

2/3 vote of voting interests for most amendments; unanimous consent of adversely affected for changes to unit description, common elements, percentage ownership, declarant rights, termination, voting rights; Articles/Bylaws by simple majori (Para 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.