70-72 Marshall Street Condominiums

Key facts from 70-72 Marshall Street Condominiums's documents

Community type

Condominium

Legal name

70-72 Marshall Street Condominium Trust

Developer / declarant

Kevin B. Delaney

Governing law

Massachusetts General Laws Chapter 183A, as amended (Declaration of Trust Article II Section )

Assessments & dues

Trustees estimate common expenses annually, determine assessment per beneficial interest; supplemental assessments allowed (Declaration of Trust Section 5.4.3)

Collections & liens

Unpaid assessments, late charges, interest, and attorneys fees constitute a lien on the Unit (Declaration of Trust Section 5.4.3)

Reserves & fees

10% of yearly operating budget set aside for reserve fund for periodic maintenance, repairs, replacement (Declaration of Trust Section 5.4.2)

Leasing & rentals

Yes, leases must be in writing and subject to governing documents; minimum initial term not less than 6 months (except Declarant may lease for not less than 30 days until all units sold) (Master Deed Sections 10, 11)

Architectural approval

Prior written approval of Trustee required for any interior or exterior change, addition, structure, projection, decoration, etc. (except interior non-structural changes not visible from exterior) (Master Deed Section 11; also structural )

Maintenance

Unit Owner responsible for interior maintenance and repair of their Unit (including interior finish walls, ceilings, doors, windows, plumbing, etc.); Trustees responsible for Common Elements (Declaration of Trust Sections 5.2, 5.3)

Insurance

Master policy for fire, extended coverage, all risk, replacement cost, with special condominium endorsement; liability insurance of at least $1,000,000; fidelity bonds; construction code endorsement (Declaration of Trust Section 5.9.1)

Use restrictions

Each unit intended for single family residential purposes only (Master Deed Section 10)

Voting & meetings

Proportionate to beneficial interest; each unit votes as a single vote; multiple owners must designate one voter (Declaration of Trust Section 4.2; Master)

Amendments

Requires consent of 100% of Unit Owners, except amendments to Article III require 75% of beneficial interest (Declaration of Trust Article III Section)

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