Park View Residences Condominium

Key facts from Park View Residences Condominium's documents

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

Community type

Condominium (Page 4/91, "establish the condominium fo)

Governing law

New Jersey Condominium Act, N.J.S.A. 46:8B-1 et seq. (Page 4/91, "provisions of the New Jersey)

Assessments & dues

Set by Board; amount not specified in Master Deed. (Article VII Section 3, page 14/91, "obli)

Special assessments

Allowed; if exceeds 10% of annual budget requires 2/3 vote of Members in Good Standing. (Article VII Section 11, page 16/91)

Collections & liens

Unpaid Common Expense Assessments constitute a continuing lien on the Unit; may be foreclosed like a mortgage. (Article VII Section 2, page 14/91)

Reserves & fees

Replacement reserve contributions collected; Sponsor responsible for unsold units' reserves until turnover. (Article VII Section 7, page 15/91)

Pets

Yes. Cats and dogs and other pets shall be permitted. (Article XI Section 1.c, page 24/91)

Leasing & rentals

Not explicitly prohibited; definition of "Lease" exists, and Sponsor may lease units per Article I. Unit Owner must give notice of intent to list for sale. (Article II definition s; Article I (page)

Parking & vehicles

Common parking areas located on lands; subject to Association Rules and Regulations. (Article V Section 1.c, page 10/91)

Home business

Prohibited. "No business, trade or profession shall be conducted in any Unit." (Article XI Section 1.a, page 21/91)

Use restrictions

Yes. No Unit shall be used for any purpose other than as a private residence. (Article XI Section 1.a, page 21/91)

Voting & meetings

Each Member in Good Standing shall be entitled to cast one (1) vote for each Unit to which he holds title. Sponsor may vote for owned units but not for unsold units in certain matters. (Article VI Section 5, page 13/91)

Amendments

Master Deed amendments require consent of affected Unit Owners and mortgage holders if affecting value, floor plan, percentage interests, financial obligations, or priority of mortgages. Sponsor has power of attorney for certain amendments (Article X Section 2, pages 20-21/91)

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