Oxbow Condominium

Key facts from Oxbow Condominium's documents

Reflects the 2024 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

residential condominium (Article I: 'residential Condominium Proj)

Governing law

Michigan Condominium Act (Act 59 of Public Acts of 1978, as amended) (Article III, Section 1)

Assessments & dues

Association establishes annual budget and levies assessments based on budget; assessments apportioned equally per unit according to equal percentage of value (Bylaws Article II, Section 2(a); Article)

Special assessments

Requires prior approval of more than 66 2/3% of all Co-owners (Bylaws Article II, Section 2(b))

Collections & liens

Unpaid assessments constitute a lien on the Unit, prior to all claims except real property taxes and first mortgages of record. Foreclosure may be by judicial action or advertisement. Redemption period 6 months (or 1 month if abandoned). (Bylaws Article II, Sections 6 and 8)

Reserves & fees

Adequate reserve fund for periodic replacement of Common Elements must be established; at minimum equal to 10% of Association's current annual budget on a noncumulative basis (Bylaws Article II, Section 2(a))

Maintenance

Roofs are part of General Common Elements (construction) – maintained by Association (Article IV, Section 1(d))

Voting & meetings

Each Co-owner votes in proportion to the percentage of value of their Unit; all units have equal percentage of value (1/42 of 100%) (Article V, Section 2)

Amendments

Master Deed, Bylaws, and Condominium Subdivision Plan may be amended with consent of 2/3 majority of votes of Co-owners and mortgagees; certain changes require affected owner/mortgagee consent; Developer may amend without approval for corre (Master Deed Article X, Sections 1-7)

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