Terrino Condominiums

Key facts from Terrino Condominiums's documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

residential site condominium (Section 1.3: 'The Project is a residenti)

Legal name

Terrino Condominiums

Governing law

Michigan Condominium Act, MCL 559.101 et seq. (Section 1.2: 'under the provisions of th)

Assessments & dues

Board establishes initial budget; assessments apportioned equally per Percentage of Value. Board may adjust if insufficient. Special assessments require 67% approval. (Bylaws Section 5.2(a): 'Board of Directo)

Special assessments

Allowed for additions >$5,000, purchase of foreclosed unit, or other purposes, with approval of 67% of Owners in number and value (Bylaws Section 5.2(c): 'The Board of Dir)

Reserves & fees

Reasonable fines (Bylaws Section 5.5(a): 'the Board may im)

Voting & meetings

One vote per Unit when voting by number; one vote value equal to Percentage of Value when voting by value. Voting by number except when Master Deed or Bylaws require voting by value. No cumulation. (Bylaws Section 2.2: 'Each Owner will be )

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