10 Jill Lane Condominium

Key facts from 10 Jill Lane Condominium's documents

Reflects the 2009 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

10 JILL LANE CONDOMINIUM

Developer / declarant

FAIGY FARKAS and MIRIAM WEISZ (Declaration, first page, page 4)

Governing law

Article 9-B of the Real Property Law of the State of New York (the Condominium Act) (Declaration, Section 2, page 4)

Assessments & dues

Condominium Board determines Common Charges based on budget, allocated pro-rata according to Common Interests (By-Laws, Section 6.1(A), page 45)

Special assessments

Allowed; capital improvements or certain other actions require Unit Owner approval of 75% in aggregate Common Interest (By-Laws, Section 2.5, pages 27-28)

Reserves & fees

Only a twelve-month reserve for contingencies not exceeding 5% of budgeted operating expenses is allowed without Unit Owner approval (By-Laws, Section 2.5(iv), page 28)

Leasing & rentals

Leasing appears allowed; Board may acquire and lease units; individual owners are not explicitly restricted, but professional office use implies residential leasing is permitted (Declaration, Section 16 (power of attorn)

Architectural approval

Yes, Board consent required for alterations, additions, improvements to units (except interior non-structural?) (By-Laws, Section 5.2(A), page 37; Declar)

Maintenance

Unit Owner responsible for interior painting, decorating, maintenance, repairs of Unit (walls, ceilings, floors, fixtures, windows, doors, plumbing); Board responsible for Common Elements; Limited Common Elements owner responsible for repai (By-Laws, Section 5.1(A) and (B), pages 3)

Insurance

Board may determine deductible amounts (By-Laws, Section 5.4(C), page 40)

Use restrictions

Units may be used in accordance with local law and Certificate of Occupancy; only one family per unit except 2-family units; professional office by owner only (Declaration, Section 9, page 6; By-Laws,)

Voting & meetings

Each Unit Owner entitled to one vote per percentage of interest owned; cumulative voting for Board elections (By-Laws, Section 4.8(A) and Section 4.9()

Amendments

Declaration may be amended by vote of at least 66 2/3% in number and common interest of all Unit Owners; certain amendments require mortgagee consent; Sponsor may amend for compliance with law without vote (Declaration, Section 19, pages 9-10)

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