2 Stysly Lane Condominium

Key facts from 2 Stysly 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

2 Stysly Lane Condominium

Governing law

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

Assessments & dues

Determined annually by Board based on budget; not fixed in documents (By-laws Art VI Sec 2)

Special assessments

Board may levy special assessments if needed for additional expenses; also for litigation costs (By-laws Art III Sec 5(1) and (10))

Collections & liens

Common charges constitute a lien on the Unit, prior except to tax liens and first mortgages; foreclosure may proceed 90 days after notice; Board may purchase Unit at foreclosure (Declaration ELEVENTH; By-laws Art VI Sec)

Reserves & fees

Board may charge delinquent Unit Owner a monthly fee not exceeding $15 (By-laws Art VI Sec 2)

Pets

Yes; pets are referenced in house rules (By-laws Art VIII Sec 3: 'guests and thei)

Leasing & rentals

Yes; Unit Owner may sell, mortgage, pledge, hypothecate, lease Unit (By-laws Art XI Sec 1)

Parking & vehicles

Commercial license plate vehicles may not be parked in excess of 24 hours (By-laws Art VIII Sec 8(e))

Architectural approval

Yes; written consent of Board required for alterations to exterior of Unit or any part of common elements, and for interior alterations that impair structural soundness (Declaration SEVENTEENTH(b); By-laws Art )

Maintenance

Board responsibility (common expense) (By-laws Art III Sec 6)

Insurance

Fire insurance with extended coverage, water damage, vandalism, malicious mischief insuring Building including Units and fixtures, full replacement value; public liability insurance with single limit $1,000,000 per occurrence (By-laws Art VII Sec 1)

Use restrictions

Occupancy restricted to residential use in accordance with applicable zoning regulations (Declaration SEVENTEENTH(i); By-laws Art )

Voting & meetings

Each Unit Owner is entitled to one vote per Unit at Unit Owners' meetings (By-laws Art II Sec 2; Declaration EIGHTH)

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