Margate Seaview Beach Condo

Key facts from Margate Seaview Beach Condo's documents

Reflects the 2000 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Margate Seaview Beach Condominium

Governing law

R.S. 46:8B-1 et seq. (New Jersey Condominium Act) (page 3 WHEREAS paragraph)

Assessments & dues

Board determines common expenses; gives written notice to unit owners; if no objection within 20 days, amount is binding; Board may amend if insufficient (By-laws Article VI Section 7)

Special assessments

Special assessment for capital improvements requires 100% vote of all unit owners; added assessments for operating expenses or unexpected repairs require no vote (Article X (c) and (b))

Collections & liens

Each assessment is a continuing lien upon the unit and is the personal obligation of the owner at the time it fell due (Article X (e))

Reserves & fees

Board shall designate reserves for deferred maintenance, replacement, capital improvements; amounts for each deposited in interest-bearing savings account (By-laws Article VI Sections 5 and 6)

Pets

Dogs and similar type pets limited to the small domestic variety are the only types permitted (Article XII (k))

Leasing & rentals

Yes, but subject to restrictions (Article XV)

Architectural approval

Written approval required for exterior alterations, modifications affecting bearing walls, structural additions, changes to exterior appearance (Article XII (e), (f), (o); also Article )

Maintenance

Association responsible for maintenance of exterior and roofs (excluding window glass) (By-laws Article V Section 2(c))

Insurance

Association shall obtain master policies: full replacement value insurance on units, common elements, limited common elements; also 80% replacement cost on contents of common facilities; public liability insurance; workers compensation; opt (Article XVIII (a), (b), (c))

Use restrictions

Each unit shall be used only as a private residence (Article XII (a))

Voting & meetings

One vote per unit, total 4 votes (Article IX: 'one vote per unit' and By-l)

Amendments

Master Deed amendment requires unanimous vote of unit owners and recordation in Atlantic County Clerk's office; By-laws amendment requires 100% vote (Article XIX; By-laws Article X)

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