Reservoir Avenue Condominium

Key facts from Reservoir Avenue Condominium's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Master Deed, Recitals: 'establish the fo)

Legal name

29 Reservoir Avenue Condominium Association, Inc. (Master Deed, Section 24: 'to be known as)

Governing law

New Jersey Condominium Act, N.J.S.A. 46:8B-1, et seq. (Master Deed, Recitals; Section 33.k)

Collections & liens

Unpaid assessments constitute a lien prior to all other liens except taxes and recorded mortgages. Lien may be foreclosed like a mortgage; Board may bid and acquire units. (Master Deed, Section 7.r: 'All sums asse)

Leasing & rentals

Unit Owners have the right to lease their units, provided leases are subject to covenants and restrictions. (Master Deed, Section 17.c: 'Unit Owners )

Use restrictions

Units shall be occupied and used only as private dwellings for the owner, family, tenants, and social guests, and for no other purpose. (Master Deed, Section 15.a: 'Units will b)

Voting & meetings

Each Unit Owner in Good Standing entitled to one vote per Unit held. Sponsor may vote for Units owned but cannot vote unsold Units for election of Unit Owner Trustees, amendments, or changing use or reducing Common Elements. (Master Deed, Section 6.d and 10.d: 'Each)

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