Atlantic Ocean View Condo

Key facts from Atlantic Ocean View Condo's documents

Reflects the 1981 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Master Deed Section 1, submitted to Chap)

Legal name

Atlantic Ocean View Condominiums

Developer / declarant

Dominic Tripodi

Governing law

Chapter 8B of Title 46 of the New Jersey Statutes (Condominium Act) (Master Deed Section 1)

Assessments & dues

Governing board prepares budget at least annually, allocates common charges to unit owners in proportion to their common interest (Bylaws Article Four Section One)

Collections & liens

Association has lien on each unit for unpaid assessments plus interest and attorneys' fees; lien may be foreclosed like a mortgage; board may bid and acquire unit at foreclosure; money judgment may also be pursued without waiving lien (Master Deed Section 11; Bylaws Article F)

Reserves & fees

Working capital reserve, general operating reserve, repair and replacement reserve, reserve for prior year deficits, reserve for acquisition or lease of units (Bylaws Article Four Section One (c)-(g))

Pets

Residents may keep domestic animals, subject to municipal sanitary regulations (Bylaws Article Four Section Eight (c))

Leasing & rentals

Unit owners have absolute right to lease their units, subject to covenants and restrictions, except for transient or hotel purposes (Master Deed Section 13)

Parking & vehicles

Parking area shall be used for parking only; no furniture or objects in common areas except normal transit (Bylaws Article Four Section Eleven (a))

Architectural approval

Board must answer within 30 days after request; failure to respond constitutes consent (Bylaws Article Four Section Nine)

Signs & flags

Hanging, cleaning, or beating garments, rugs, etc. from or on windows, terraces, or facades is prohibited (applies to signs by implication) (Bylaws Article Four Section Eight (d))

Insurance

Fire and extended coverage insurance on common elements, limited common elements, structural portions of condominium property, and all units (excluding owner's personal property) at not less than 100% assessed value (Bylaws Article Four Section Thirteen)

Use restrictions

Units shall be occupied and used only as private dwellings for owner, family, tenants, and social guests, and for no other purposes (Master Deed Section 10(d); Bylaws Articl)

Voting & meetings

Each unit owner's voting power equals 20% (since 5 units each with equal common interest). Bylaws state only two units, but master deed controls. (Master Deed Section 8 ('twenty per cent )

Amendments

Master Deed may be amended by affirmative vote of 60% of unit owners, cast in person or by proxy at a meeting; amendment must be recorded in Atlantic County (Master Deed Section 24)

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