Newark Beach Block Condo

Key facts from Newark Beach Block Condo's documents

Reflects the 1991 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 1, Title: 'MASTER DEED FOR NEWARK B)

Legal name

NEWARK BEACH BLOCK CONDOMINIUM

Governing law

R.S. 46:8B-1 to 30 (New Jersey Condominium Act) (Page 3, Paragraph 1: 'in accordance with)

Assessments & dues

Fixed by Board of Trustees annually for each calendar year; amount at least sufficient to maintain exterior of buildings and common elements (Master Deed Paragraph 7 (page 6): 'Board)

Special assessments

Allowed for construction, reconstruction, unexpected repair, replacement, capital improvements, or any lawful purpose; requires assent of all Unit Owners at a meeting with 30 days notice; also lump sum assessment for immediate need/emergenc (Master Deed Paragraph 7 (page 7): 'a spe)

Collections & liens

Unpaid assessments constitute a continuing lien on the unit; may be foreclosed like a mortgage; also personal obligation; lien subordinate to tax liens and first mortgages; suit may recover money judgment without waiving lien (Master Deed Paragraph 7 (pages 7-8): 'Ea)

Reserves & fees

Existence indicated; Article VI of By-laws includes sections on Reserves and Exemption from Payment of Reserves; but no detailed amounts (By-laws Table of Contents (page 29): '6.)

Voting & meetings

One vote per Unit; total 2 votes initially held by Grantor, transferred upon sale (Master Deed Paragraph 6 (page 6): 'one v)

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