Sandlewood Condominium

Key facts from Sandlewood Condominium's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Sec. 1)

Legal name

Sandlewood Condominium

Developer / declarant

Rizzo-Valenti, Inc. (Sec. 3K)

Governing law

Condominium Act of the State of New Jersey, Chapter 257 Laws of New Jersey 1969 effective January 7, 1970 (N.J.S.A. 46:8B-1 et seq.) (Preamble and Sec. 12A)

Assessments & dues

Association establishes an annual budget; assessments are set based on that budget and apportioned 50% per unit owner. (Master Deed Sec. 11A and 11C)

Special assessments

Allowed; may be levied at any time by the Association for requirements including capital improvements. (Master Deed Sec. 11B)

Collections & liens

Assessments become a lien against the unit; association may foreclose or sue personally; reasonable attorney's fees included. (Master Deed Sec. 11D, 11E, 11G)

Reserves & fees

Reasonable reserves may be included in Common Expenses. (Master Deed Sec. 3F (definition of Commo)

Leasing & rentals

At least one week. (Master Deed Sec. 8G)

Insurance

Association obtains casualty/physical damage insurance on buildings and improvements for full replacement value, and public liability insurance minimum $100,000 per person/$500,000 per occurrence bodily injury, $50,000 property damage. (Master Deed Sec. 14A, 14C(i), 14C(ii))

Use restrictions

Units are designed and intended for use as a private residence. (Master Deed Sec. 3N)

Voting & meetings

Each unit owner has one vote; aggregate of two votes. Tie-breaking: Unit 1 owner casts tie-breaker in odd-numbered years, Unit 2 owner in even-numbered years. (Master Deed Sec. 10; By-Laws Art. III Se)

Amendments

Master Deed amendment requires affirmative vote of all unit owners; certified copy recorded in Atlantic County. By-Laws amendment requires written consent of all unit owners. (Master Deed Sec. 19; By-Laws Art. VIII S)

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