61 63 Hempstead Road Condominium

Key facts from 61 63 Hempstead Road Condominium's documents

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

Community type

Condominium (Title: DECLARATION OF CONDOMINIUM)

Legal name

61-63 Hempstead Road Condominium

Developer / declarant

63 HEMPSTEAD MANAGEMENT CORP (DECLARANT: 63 HEMPSTEAD MANAGEMENT CORP)

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Article 9-B of the Real Property Law of )

Assessments & dues

By board budget; common charges allocated pro rata according to common interest (Section 2.4 (v): determine the amount an)

Special assessments

Allowed by board; but for capital or reserves requires 75% vote of unit owners (Section 2.5(B)(iii): Special Assessment )

Collections & liens

Board may enforce by legal means; assessment liens implied; no specific lien provision detailed (Section 2.4(xviii): enforce by legal mea)

Reserves & fees

Board may establish reserve not exceeding 10% of budgeted operating expenses for capital expenditures (Section 2.4(xii): establish a reserve fu)

Leasing & rentals

Implied; restriction on leasing would require material amendment (Article 19(b)(ix): imposition of any res)

Architectural approval

Board approval required for alterations, additions, improvements (Section 5.2(A): make alterations, additi)

Home business

Professional office by owner only (Section 5.6(B): Any Unit may be partiall)

Maintenance

Owner: interior of unit and limited common elements; Association: common elements (Section 5.1(A): all painting, decorating)

Insurance

Board determines deductible amounts (Section 5.4(C): Any insurance policies m)

Use restrictions

Unit may be used as residence; professional office by owner only; below-grade rooms only for storage; attics not habitable (Section 5.6(B): Any Unit may be partiall)

Voting & meetings

Each unit owner has one vote per unit; each unit elects one board member (Section 4.8(A): each Unit Owner shall be)

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