Palms Condominium

Key facts from Palms Condominium's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

THE PALMS CONDOMINIUM

Developer / declarant

Haverford Investments

Governing law

New Jersey Condominium Act, N.J.S.A. 46:8B-1 et seq. (Background paragraph C)

Assessments & dues

Association estimates annual charges on or before December 1, assessed per percentage of common elements (Article 11.1.1)

Collections & liens

Amount of assessment becomes a lien upon recording claim of lien; foreclosure allowed (Article 12)

Reserves & fees

Board may choose to create reserves (Article 4.1: "creation of reserves (if t)

Pets

Domestic pets allowed subject to Rules and Regulations; Association may prohibit entirely (Article 14.5)

Leasing & rentals

Unit Owners may lease Units subject to reasonable rules adopted by Association (Article 14.2)

Architectural approval

Prior written approval of Board required for removal/replacement of interior partitions and for alterations in Common Elements (Articles 3.1.3 and 14.7)

Maintenance

Common Element - Association responsible (Article 5.1.3 (roof is part of Common El)

Insurance

Complete comprehensive coverage including personal liability and casualty, covering entire structure but not contents of individual Units; 100% replacement value for structures (Article 21.6)

Voting & meetings

One vote per Unit, no fractional voting (Article 10)

Amendments

Majority vote of members, must be recorded; certain provisions require unanimous written consent of Unit Owners and mortgagees (Articles 27 and 11.1.4)

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