Oakland Beach Condo

Key facts from Oakland Beach Condo's documents

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

Community type

Condominium (Article I, 1.01: 'the Oakland Beach Cond)

Legal name

Oakland Beach Condominium Association, Inc.

Governing law

New Jersey Condominium Act, N.J.S.A. 46:8B-1 et seq. and New Jersey Non-Profit Corporation Act, N.J.S.A. 15A:1-1 (Articles I, 1.01 and IV, 4.01)

Assessments & dues

Board determines annual Common Expense assessment and gives written notice to Owners and Notice Mortgagees prior to fiscal year. If no notice, last year's amount presumed until changed. (Article VII, 7.07)

Special assessments

Board may impose Emergency Common Expense assessment for immediate need not met by reserves. (Article VII, 7.07)

Collections & liens

After 30-day default, acceleration notice given; if default continues 30 days after payment date, lien may be filed; if continues 60 days after lien, foreclosure may proceed. (Article VII, 7.08)

Reserves & fees

Board must maintain reserves for repairs, replacements, contingencies. Reserve funds kept in separate interest-bearing accounts. (Article VII, 7.06)

Pets

Board may adopt rules covering operation and use of Units and Common Elements, including but not limited to pet controls. (Article VI, 6.01.E)

Maintenance

Association responsible for maintenance, repair, and replacement of General and Limited Common Elements. Owners responsible for their own Units as outlined in Master Deed. (Article VI, 6.02.A)

Insurance

Amount and responsibility for deductible determined by Board in its sole discretion. (Article VI, 6.02.K(i))

Voting & meetings

Each Owner has one vote per Unit. Co-owners determine vote among themselves; if disagreement, vote split equally. Only Members in good standing may vote. (Article II, 2.06 and 2.07)

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