One Two Four Three Sussex Tpk Condo

Key facts from One Two Four Three Sussex Tpk Condo's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 1: "establish '1243 Sussex Turnp)

Legal name

1243SUSSEX TURNPIKE CONDOMINIUM

Developer / declarant

NOHAB, LLC

Governing law

N.J.S.A. 46:8B-1 to 30 (Condominium Act of New Jersey) (Article 1: "in accordance with N.J.S.A. )

Special assessments

Association may levy a special assessment, including a Reserve Fund assessment (Article 19: "the Association shall have )

Reserves & fees

Additional $2,500 per year budgeted; unused monies retained for long term capital improvements. (Article 19: "budget will also include an)

Leasing & rentals

Yes, but only for permitted uses (professional office); tenant must be a 'Qualified Tenant' determined by Association. (Article 16A: "No condominium Unit shall )

Insurance

Association required to obtain and maintain fire insurance with extended coverage for Common Elements, Building containing Units, service machinery, and interests of Association, Unit Owners and lenders. (Article 17(1): "The Association ... shal)

Voting & meetings

Each Unit Owner casts one vote per Unit; vote weight equal to percentage interest in Common Elements. Majority = 51% of percentage interest. (Article 6C: "Each Unit Owner ... shall b)

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