Ventnor Ocean Condo Assoc

Key facts from Ventnor Ocean Condo Assoc's documents

Community type

Condominium

Legal name

Ventnor-Ocean Condominium Association, Inc.

Units / lots

54 (53 residential condominium units, 1 commercial condominium unit) (Page 7 (Article 3): 'fifty-three (53), o)

Developer / declarant

Ventnor Ocean Property Group

Governing law

N.J.S.A. 46:8B-1 et seq. (Condominium Act) (Page 4, Recital B; Article 2J)

Assessments & dues

Set annually by the Board based on Common Expenses needed (Article 7A (Page 11): 'fix annual common)

Special assessments

Board may levy a special assessment for capital improvements, unexpected repair/replacement, or other lawful purposes (Article 7E (Page 12): 'Board may levy, i)

Collections & liens

Each assessment constitutes a continuing lien on the Unit; may be foreclosed like a mortgage; suit for money judgment may be maintained without waiving lien (Article 7H (Page 12-13): 'Each such Asse)

Reserves & fees

Reserves for replacement are mandatory (Article 8A (Page 13): 'Reserves for repl)

Leasing & rentals

Unit Owners may rent or lease their Units, subject to provisions of Article 11Q (Article 11Q (Page 19): 'Unit Owners may )

Parking & vehicles

Prohibited per Article 11D (see work_or_commercial_vehicles) (Same as above)

Architectural approval

Prior written approval of Board required for: removal/replacement of interior non-bearing walls (Article 4C), structural additions/alterations/improvements (Article 11N), building, planting, or maintaining anything on Common Elements (Artic (Article 4C (Page 9): 'subject to prior w)

Maintenance

Association responsible for maintenance, repair, replacement of roofs (Article 8A (Page 13): 'maintenance, repa)

Insurance

Determined by Board in its sole discretion (Article 20A (Page 26): 'The amount of an)

Use restrictions

Residential Units for residential purposes only; exceptions for Sponsor-owned units used as rental/marketing offices or models (Article 11A (Page 17): 'No Residential U)

Voting & meetings

One vote for each Unit (Article 6C (Page 11): 'voting rights of )

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