Beach Block Condo

Key facts from Beach Block Condo's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Para 1: 'create and establish this condo)

Legal name

BEACH BLOCK CONDOMINIUM

Governing law

New Jersey Condominium Act, NJSA 46:8B-1 et seq. (Para 1)

Assessments & dues

$100.00 per month per unit initially (Master Deed para 5)

Special assessments

Board may impose lump sum assessment for immediate need or emergency; also for deficiency in insurance restoration (By-laws Art. VI Sec. 7 and Art. IX Sec. )

Collections & liens

Association has lien on unit for unpaid common expenses, subordinate to first mortgage; if default continues 180 days, Board shall foreclose (Master Deed para 5; By-laws Art. VI Sec.)

Reserves & fees

Required reserves for deferred maintenance, replacement, capital improvements; kept in interest-bearing accounts (By-laws Art. VI Sec. 5 and 6)

Leasing & rentals

Yes, with restrictions (Master Deed para 18)

Maintenance

If damage to common elements or another unit caused by owner's negligence or that of family, pet, guest, etc., that owner pays for such damage (Master Deed para 14(b))

Insurance

Board obtains flood, fire, broad form extended coverage insurance with vandalism and malicious mischief endorsements; public liability insurance for common elements; workmen's compensation; automobile insurance (By-laws Art. V Sec. 2(f))

Voting & meetings

One vote per unit; initially all held by Grantor; transferred upon sale of unit (By-laws Art. II Sec. 2)

Amendments

Master Deed may be amended by 66-2/3% of ownership interest; unanimous if required by Act or Master Deed; By-laws may be amended by 51% of votes entitled to be cast (Master Deed para 20; By-laws Art. XI)

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