4 Nancy Lane Condominium

Key facts from 4 Nancy Lane Condominium's documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration, paragraph 5: "The Condomini)

Legal name

4 Nancy Lane Condominium

Developer / declarant

4 NANCY LN LLC (Declaration opening: "4 NANCY LN LLC, wi)

Governing law

Article 9-B of the Real Property Law of the State of New York (Preamble: "Pursuant to Article 9-B of th)

Assessments & dues

Board determines amount of Common Charges and Special Assessments and collects from Unit Owners pro-rata based on Common Interest. (By-Laws Section 2.4(v): "to determine th)

Special assessments

Defined: charges allocated and assessed by Board to Unit Owners pro-rata in accordance with Common Interests. (Exhibit C Definition 32: "Special Assess)

Collections & liens

Board may enforce collection of unpaid charges via legal means; notice to mortgagees required; specific lien and foreclosure procedures not detailed but governed by Condominium Act. (By-Laws Section 9.1 (Self Help), Section)

Leasing & rentals

Units may be occupied by the Owner or his permitted lessees. (Declaration Section 9: "Each of the Unit)

Architectural approval

Alterations, additions, improvements to units require Board approval. (Declaration Section 10: "Alterations, Ad)

Maintenance

Unit Owner responsible for all painting, decorating, maintenance, replacements in or to the Unit (interior walls, ceilings, floors, fixtures, windows, doors, exposed plumbing, etc.). Board responsible for Common Elements. Exterior glass sur (By-Laws Section 5.1(A) and (B))

Insurance

Board determines deductible amounts. (By-Laws Section 5.4(C): "Any insurance p)

Use restrictions

Each Unit may be used only as permitted by local Law and zoning and Certificate of Occupancy; no more than one family may occupy a Unit at one time. (Declaration Section 9: "Each Unit may be)

Voting & meetings

Each Unit Owner has one vote per unit owned; in Board elections, each unit owner elects one Board Member. Sponsor has voting rights as long as it owns Unsold Units. (By-Laws Section 4.9: "Each owner of a Un)

Amendments

Declaration may be amended by vote or written consent of all Unit Owners; certain changes require mortgagee consent; Sponsor may amend without vote to correct plans or add appurtenances. (Declaration Section 19)

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