Gerard Condominiums

Key facts from Gerard Condominiums's documents

Community type

Condominium (Recitals, lines 'Condominium is a method)

Legal name

Gerard Condominiums Assn.

Governing law

N.J. Revised Statutes 46:8B-1 et seq. (Condominium Act of New Jersey) (Recitals, 'submits the property ... to t)

Assessments & dues

Set annually by Board of Directors based on estimated Common Expenses including contingencies and reserves, less unneeded balances. (Article IX, Section 4: 'Assessments for )

Special assessments

Special assessments may be levied by Board of Directors; payment terms determined by Board. However, any assessment to satisfy a judgment entered against the Association shall not exceed the total Common Expense assessment for the year in w (Article IX, Sections 5 and 6)

Collections & liens

All charges and expenses chargeable to any Unit constitute a lien in favor of the Association against the Unit, Common Elements, and appurtenances. Lien may be additionally secured. Lien is subordinate to past-due unpaid taxes, any mortgage (Article IX, Sections 10, 12)

Reserves & fees

Common Surplus may be applied to reserve accounts for future purposes as deemed advisable by the Board of Directors. (Article I, Section 8: 'Application of ea)

Leasing & rentals

Yes. Unit Owner may lease Unit for term of two weeks or longer provided prior written notice to Association with name and address of lessee and other reasonably required information. Leases for term less than two weeks require approval of A (Article IV, Section 2: 'A Unit Owner may)

Use restrictions

Residential Units shall be utilized for single-family residential use only. (Article III, Section 1: 'The Residential)

Voting & meetings

One vote per unit. If unit owned by more than one person, vote cast by designated representative; written document required. Splitting of unit vote prohibited. (Article I, Section 14: 'Each Unit shall )

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