I Tiffany Place Condo

Key facts from I Tiffany Place Condo's documents

Community type

condominium (Preamble and throughout)

Legal name

1 Tiffany Place Condominium Association

Developer / declarant

Joseph F. Staines, Jr., Kimberly Staines (50% undivided interest) and Brian J. Keena (50% interest) (Preamble)

Governing law

New Jersey Condominium Act (N.J. Revised Statutes 46:8B-1 et seq.) (Preamble)

Assessments & dues

Management Committee estimates annual charges on or before December 1, based on budget including contingencies and replacements, less expected income and surplus; assessment proportional to percentage interest (§6). Failure to fix does not (Master Deed §8(a); By-Laws Art II §2(1)()

Special assessments

May be levied at any time if estimate inadequate; assessed to all unit owners in like proportion (Master Deed §8(a))

Collections & liens

Unpaid amounts become a lien upon recording a Claim of Lien; Association may foreclose; includes acceleration of remaining installments for the fiscal year, costs of collection, reasonable attorney fees, and interest at the highest rate cha (Master Deed §9)

Reserves & fees

Reserve deposits held in separate interest-bearing account; Management Committee required to maintain reserves for deferred maintenance and replacement; interest used to offset Association expenses (Master Deed §20; By-Laws Art II §2(5))

Pets

Domestic pets may be kept in a unit, subject to Rules and Regulations adopted by Management Committee (Master Deed §11(e))

Leasing & rentals

Unit owners may freely lease and sell their units (Master Deed §11(b))

Architectural approval

Management Committee must respond to written request for approval within 30 days (By-Laws Art VI)

Setbacks / home size

Minimum building setback lines as shown and set forth on map 'Brigantine Bay' filed August 10, 1984 as Map No. 1908 (Exhibit A, Restrictions of Record)

Maintenance

Owner responsible for maintenance and repairs within unit; Association responsible for common elements and limited common elements, except that if repair is due to owner negligence, owner reimburses Association (Master Deed §11(k); By-Laws Art V §1)

Insurance

Complete comprehensive coverage including personal liability and casualty; fire, windstorm; liability minimum $1,000,000; replacement cost at 100%; covers building common elements, limited common elements, land to outward edge of curbing an (Master Deed §16(a)-(d))

Voting & meetings

One vote per unit; no fractional voting; each unit owner casts vote (Master Deed §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.