Ryann Ridge

Key facts from Ryann Ridge's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Throughout (e.g., Master Deed title: 'Co)

Units / lots

54 (maximum) (Master Deed Article I: 'maximum of 54 Un)

Governing law

Michigan Condominium Act, being Act 59 of the Public Acts of 1978, as amended (Master Deed Preamble and Article III(a))

Assessments & dues

Board of Directors establishes annual budget in advance; allocates common charges to each Unit according to percentage of value (Condominium By-Laws Article V, Section 4)

Special assessments

Special assessments for capital improvements exceeding $2,000 per year, purchase or lease of a Unit, or other appropriate purposes require prior approval of more than three-fourths (3/4) of all Members in value and in number (Condominium By-Laws Article V, Section 5)

Collections & liens

Unpaid assessments constitute a lien upon the Unit prior to all other liens except tax liens and sums unpaid on a first mortgage of record. Association may enforce by suit at law or foreclosure by judicial action or advertisement (power of (Condominium By-Laws Article V, Section 6)

Reserves & fees

Association shall maintain a reserve fund for major repairs and replacement of Common Elements equal to at least 10% of current annual budget on a noncumulative basis (Condominium By-Laws Article V, Section 1)

Use restrictions

Project is a 'residential site condominium'; no express restriction on use type (Master Deed Article I)

Voting & meetings

Each Unit collectively entitled to one vote when voting by number; one vote with value equal to percentage of value when voting by value (Condominium By-Laws Article II, Section )

Amendments

If no Co-owner other than Developer, Developer may unilaterally amend. If other Co-owners exist: amendments not materially altering rights may be made without consent; material amendments require consent of not less than two-thirds (2/3) of (Master Deed Article IX.B)

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