5 Elliot Court Condominium

Key facts from 5 Elliot Court Condominium's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title: '5 Elliot Court Condominium' and )

Legal name

5 ELLIOT COURT CONDOMINIUM

Developer / declarant

MEG FAMILY TRUST

Governing law

Article 9-B of the Real Property Law of the State of New York (FIRST article, page 3)

Assessments & dues

Board determines total required amount (including insurance, repairs, reserves, etc.) and prorates among Units according to common interest percentages; assessments payable monthly in advance (By-laws Article VI Section 2)

Special assessments

Board may levy special assessments when required, payable in the same manner as regular assessments (By-laws Article III Section 5(1) and Art)

Collections & liens

Unpaid common charges constitute a lien on the Unit prior to all other liens except tax/assessment liens and sums unpaid on first mortgages; lien may be foreclosed like a mortgage; also money judgment may be obtained (Declaration TWELFTH; By-laws Article VI )

Reserves & fees

Monthly fee of not more than $15 per month for delinquency (By-laws Article VI Section 2)

Voting & meetings

Each Unit Owner has one vote per percentage of common interest as per Exhibit B; at Unit Owner meetings each Unit appoints a Manager to vote (Declaration EIGHTH; By-laws Article II S)

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