4 Crown Road Condominium

Key facts from 4 Crown Road Condominium's documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (4 CROWN ROAD CONDOMINIUM)

Legal name

4 Crown Road Condominium

Developer / declarant

4 CROWN LLC (4 CROWN LLC)

Governing law

Article 9-B of the Real Property Law of the State of New York (PURSUANT TO ARTICLE 9-B OF THE REAL PROP)

Assessments & dues

Board prepares budget and determines Common Charges and Special Assessments, allocated pro-rata according to Common Interests (By-Laws Section 2.4(iv), (v); Definition)

Special assessments

The Condominium Board may assess Special Assessments pro-rata to Unit Owners (By-Laws Section 2.4(v); Definition (35))

Collections & liens

Board may file a lien against a Unit Owner's Unit for unpaid Common Charges (By-Laws Section 2.4(vi))

Reserves & fees

Board may establish reserve fund for capital expenditures not exceeding 10% of budgeted operating expenses for the ensuing twelve months (By-Laws Section 2.4(xii))

Architectural approval

Board approval required for alterations, additions, improvements to exterior (if design differs from original) and for changes to layout of unit; interior alterations do not require approval (By-Laws Section 5.2(i), (ii), (iii), (iv)

Insurance

Policies may provide for deductibles (By-Laws Section 5.4(C))

Use restrictions

Each Unit may be used only as a private dwelling in accordance with local law and zoning; not more than one family may occupy a Unit (Declaration Article 9)

Voting & meetings

Each Unit Owner casts one vote per percentage of interest owned; cumulative voting permitted; Sponsor may vote as long as it owns at least one Unit (By-Laws Sections 4.8, 4.9)

Amendments

By affirmative vote of at least two-thirds of all Unit Owners at a meeting or by written consent of same number and common interest; material amendments require consent of eligible mortgage holders representing at least 51% of votes of unit (Declaration Article 19(a), (c))

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