Dean Lake Woods Condominiums

Key facts from Dean Lake Woods Condominiums's documents

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

Community type

condominium (Dean Lake Woods Condominiums, establishe)

Legal name

Dean Lake Woods Condominium Association

Management

Grandmark Property Management

Governing law

Michigan Condominium Act (Act 59, Public Acts of 1978, as amended) (Throughout document)

Assessments & dues

Assessments are collected by Board; budget and allocation based on percentage of value (equal per unit). Assessment procedure in Article VIII of Bylaws. (Article IV, Section 3(2) of Bylaws (Boar)

Special assessments

Unusual common expenses benefiting less than all Units may be assessed against those Units (Section 69 of Act). Also, Association may assess costs due to owner's fault. (Article IV, Section 2.B(4) of Master Dee)

Collections & liens

Association has lien for unpaid assessments; can enforce by legal action, foreclosure, fines. Lien attaches as in cases of regular assessments. (Article IV, Section 2.B(3) of Master Dee)

Reserves & fees

Association may levy a transfer fee against a new Co-owner not to exceed 2 times the then current monthly assessment plus reasonable administrative costs. (Article XII, Section 9.09 of Bylaws (as )

Leasing & rentals

Yes, but with restrictions: maximum of 9 units leased at any time; initial lease term not less than 6 months; subleasing prohibited. Immediate family members not counted as lease. (First Amendment, Section 9.01)

Maintenance

Association responsible (roofs are general common elements). (Article IV, Section 1.A(3) of Master Dee)

Use restrictions

Implied as residential condominium project; no commercial use specified. (Master Deed Article V (use consistent wi)

Voting & meetings

Each Co-owner entitled to one vote per Unit owned, provided not in default of assessments. Voting by number. Unit owned jointly: only one joint vote. Voting representative must be designated. Proxies and written votes allowed. (Article II, Sections 3, 4, 5, 7 of Bylaw)

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