Prospect Place Condominium

Key facts from Prospect Place Condominium's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article II, Section 1: 'Prospect Place C)

Legal name

Prospect Place Condominium Trust

Governing law

Chapter 183A of the Massachusetts General Laws (Article II, Section 1: 'provisions of Ch)

Assessments & dues

Trustees estimate common expenses at least 30 days before fiscal year, assess each unit owner their share, payable monthly in advance on the first day of each month (Article V, Section 2B: 'At least thirty )

Special assessments

Trustees may make supplemental assessments during the fiscal year if common expenses exceed estimate, or to create a reserve fund (Article V, Section 2B: 'make a supplemen)

Collections & liens

Unpaid assessments and interest constitute a lien on the unit pursuant to Section 6 of Chapter 183A (Article V, Section 2B: 'shall constitute)

Reserves & fees

Trustees may set aside common funds as reserve or contingent funds for reduction of indebtedness, repair, restoration, or improvements (Article V, Section 2A: 'set aside common)

Pets

Ordinary domestic pets allowed (Article V, Section 13: 'Ordinary domesti)

Leasing & rentals

Yes, Seller reserves right to rent units; no restriction on other owners noted (Master Deed, Paragraph 13: 'the right to)

Parking & vehicles

Trucks, motorcycles and commercial vehicles prohibited without prior written consent; emergency vehicles excepted (Schedule A, Rule 21: 'excluding specific)

Maintenance

Unit Owner responsible for interior maintenance; if interior condition adversely affects adjacent unit or is hazardous, Trustees may require owner to perform work, and if not done within 15 days, Trustees may do work at owner's cost (subjec (Article V, Section 12: 'the interior of )

Use restrictions

Units are intended only for residential purposes; no other use without prior written consent of Trustees (Master Deed, Paragraph 6: 'The Units are)

Voting & meetings

Votes based on percentage of beneficial interest per unit; Declarant has same voting rights as other unit owners as to Units owned (Article III, Section 1: 'by majority (in)

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