Rose Pointe Condominium (NJ)

Key facts from Rose Pointe Condominium (NJ)'s documents

Reflects the 2013 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Rose Pointe Condominium Association, Inc. (Art. II §1 (c))

Governing law

New Jersey Condominium Act, N.J.S.A. 46:8B-1 et seq. (Recitals; Art. II §1 (l))

Assessments & dues

Board fixes Annual Common Expense Assessment at least sufficient to maintain exterior of Building and Common Elements; amount in Board's sole discretion. (Art. VII §3)

Special assessments

Board may levy Special Common Expense Assessment for reconstruction, unexpected repair, replacement, or other lawful purpose (excluding new capital improvements). If exceeds 10% of annual budget, must be approved by 2/3 in interest of all v (Art. VII §10)

Collections & liens

Each Common Expense Assessment is a continuing lien on the Unit. May be foreclosed in same manner as mortgage on real property. Suit for money judgment may be maintained without waiving lien. (Art. VII §2)

Voting & meetings

Each Member in Good Standing one unweighted vote per Unit for election of Trustees; for all other questions one vote per Unit weighted by percentage interest. Sponsor may vote for all Units it owns but cannot vote unsold Units for election (Art. VI §5)

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