10 Jeffrey Place Condominium

Key facts from 10 Jeffrey Place 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 JEFFREY PLACE CONDOMINIUM

Developer / declarant

MICHAEL TAUBER AND RACHEL L. TAUBER (DECLARANT: MICHAEL TAUBER AND RACHEL L. )

Governing law

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

Assessments & dues

Determined by Board annually based on budget (Section 6.1 (page 44))

Special assessments

Board may levy Special Assessments to meet Common Expenses, allocated pro rata (Section 6.1(C) (page 45))

Collections & liens

Board has lien for unpaid Common Charges and Special Assessments; may foreclose under Condominium Act (Section 6.2(A) (page 46) and Section 6.4)

Reserves & fees

Board may establish a reserve for contingencies not exceeding 5% of budgeted operating expenses for a twelve-month period (Section 2.5(iv) (page 28))

Leasing & rentals

Units may be occupied by owner or permitted lessees (Declaration Article 9 (page 6) – 'to be )

Architectural approval

Consent of Condominium Board required for alterations, additions, improvements, or changes to a Unit (Declaration Article 10 (page 6-7) and By)

Home business

Professional office by owner only permitted (Section 5.7 (page 42))

Maintenance

Unit Owner responsible for maintenance and repair of unit interior (walls, ceilings, floors, fixtures, windows, doors, plumbing, etc.); Condominium Board responsible for Common Elements (Section 5.1(A) (page 37))

Insurance

Board may determine deductible amounts (Section 5.4(C) (page 40))

Use restrictions

Each Unit may be used in accordance with local law and Certificate of Occupancy; not more than one family may occupy a Unit at a time; also professional office by owner allowed (Declaration Article 9 (page 6) and By-La)

Voting & meetings

Each Unit Owner entitled to one vote per percentage of interest owned; cumulative voting for Board elections; Sponsor votes as long as it owns Unsold Units (Section 4.8 (pages 35-36))

Amendments

By vote of at least 66 2/3% in number of all Unit Owners; certain amendments require mortgagee consent; Board may amend to divide condominium board without Unit Owner consent (Article 19 (pages 10-11))

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