South Adams Condo

Key facts from South Adams Condo's documents

Reflects the 2010 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Master Deed, page 1: 'submits the Proper)

Legal name

South Adams Condominium

Governing law

New Jersey Condominium Act, N.J.S.A. 46:8B-1 et seq. (Master Deed, page 1: 'pursuant to the Ne)

Assessments & dues

Board establishes annual budget by December 1; fixes assessment amount reasonably sufficient to cover common expenses including contingencies and replacements, less income and surplus. (Master Deed, page 8: 'On an annual basis)

Special assessments

Permitted; budget and assessments may be amended at any time; lump sum assessment allowed for immediate need or emergency. (By-Laws, page 4 (section 2.2): 'budget a)

Collections & liens

Unpaid assessment plus interest and costs (including attorney fees) become a lien upon recording claim of lien; enforce by foreclosure; Association may bid at sale; appointment of receiver. (Master Deed, pages 9-10: 'shall become a)

Reserves & fees

Reasonable reserve for emergencies, contingencies, bad weather, uncollected accounts; kept in interest-bearing securities or insured savings accounts. (By-Laws, page 4 (section 2.8): 'maintain)

Pets

Domestic pets allowed, subject to Association rules; Association may prohibit entirely. (Master Deed, page 11: 'domestic pets may)

Leasing & rentals

Unit owners have absolute right to lease. (Master Deed, page 10: 'Unit Owners shall)

Architectural approval

Prior written approval of Board required for removal or replacement of interior non-bearing walls; written consent of Association required for any alteration or construction in Common Elements. (Master Deed, page 4: 'Interior partition)

Use restrictions

Units may be used only for single family residence purposes. (Master Deed, page 10: 'No Unit Owner sha)

Voting & meetings

One vote per unit; no fractional voting; vote cast within exclusive discretion of unit owner. (Master Deed, page 8: 'Voting in that Ass)

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