108 Jackson Condominium Inc.

Key facts from 108 Jackson Condominium Inc.'s documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Throughout)

Units / lots

6 (tax lots 1001-1006) (Cover page property data and Schedule B)

Developer / declarant

V Development Group LLC (Declaration page 12)

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration Article FIRST)

Assessments & dues

Board of Managers determines Common Expenses and fixes Common Charges per unit's Common Interest percentage. (By-Laws Article VI Section 9; Declaratio)

Special assessments

Allowed by Board as needed (By-Laws III.6.1, page 48: 'vote a specia)

Collections & liens

Unpaid Common Charges become a lien on the unit prior to all liens except taxes and first mortgages; may be foreclosed like a mortgage. (Declaration Article TWELFTH)

Leasing & rentals

Yes, with requirements: tenant bound by declaration and rules; landlord must provide copy; if owner defaults on common charges for 60 days, tenant must pay rent directly to association (By-Laws XI and VII.7, pages 32-33)

Architectural approval

Board approval required for structural alterations, additions, or improvements affecting two or more units or Common Elements; interior wall removal requires approval. (Declaration Article TWENTIETH (b) and (c)

Signs & flags

Sponsor may erect signs; not addressed for unit owners (likely restricted). (Declaration Article TWENTY-SECOND (b))

Maintenance

Association responsible for general common elements (land, foundations, roofs, stairs, utility lines servicing building, etc.); Unit owner responsible for interior of unit and limited common elements; owner must maintain to prevent harm (Fifth: Common Elements, pages 16-17; Nin)

Insurance

Board to insure General Common Elements, Limited Common Elements, and Units (By-Laws III.6.6, page 49)

Use restrictions

Yes, Units restricted to residential occupancy only. (Declaration Articles SIXTEENTH and SEVEN)

Voting & meetings

Each Unit Owner has one vote per unit owned; Sponsor and Board may vote if they own units; Board cannot vote units held for Condominium. (Declaration Article EIGHTH; By-Laws Arti)

Amendments

66 2/3% vote of Unit Owners required, except changes to parcel, common interest, or voting rights require 80% and mortgagee consent; Declarant has unilateral right for certain amendments without vote. (Declaration Article TENTH)

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