Cory Condominium

Key facts from Cory Condominium's documents

Reflects the 1993 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Master Deed WHEREAS: 'submit the propert)

Legal name

Cory Condominium

Governing law

New Jersey Condominium Act (46:8B-1 et seq.) (Master Deed WHEREAS)

Assessments & dues

Management Committee estimates annual budget on or before December 1 each year; assessments based on percentage interest. (Master Deed section 8(a); Bylaws Art II )

Special assessments

Permitted; Management Committee may levy further assessment if estimate inadequate; also emergency assessments allowed. (Master Deed section 8(a); Bylaws Art II )

Collections & liens

Unpaid assessments become a lien upon recording a Claim of Lien; foreclosure allowed; Association may bid at sale. (Master Deed section 9)

Reserves & fees

Deposits held by Association in separate interest-bearing account; records maintained per unit owner. (Master Deed section 20; Bylaws Art II Se)

Pets

Domestic pets permitted in units subject to rules; no animals, livestock, or poultry otherwise. (Master Deed section 11(e))

Leasing & rentals

Yes, unit owners may freely lease units. (Master Deed section 11(b))

Fences

Fencing shall be stained as necessary; vinyl siding and trim replaced in conformity to existing style and color. (First Amendment section 4 (replacing Mas)

Architectural approval

Written consent of Management Committee (and mortgagee) required for structural additions, alterations, or improvements; also for any changes to common/limited common elements. (Bylaws Art VI; Master Deed section 11(g))

Maintenance

Association (Master Deed section 4(d) (roof is common)

Insurance

Complete comprehensive coverage including personal liability and casualty; fire, windstorm; flood insurance required per First Amendment; minimum liability $1,000,000; replacement cost 100%. (Master Deed section 16; First Amendment )

Voting & meetings

One vote per unit; no fractional voting (Master Deed section 7)

Amendments

Master Deed: 100% of members must vote affirmatively, recorded. Bylaws: 66 2/3% of votes entitled to be cast. (Master Deed section 21; Bylaws Art XI)

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