Wilshire Point Garage Condo

Key facts from Wilshire Point Garage Condo's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Garage Condominium Series) (Page 1 - 'Wilshire Point Garage Condomin)

Legal name

Wilshire Point Garage Condominiums

Developer / declarant

Burlington Crossing, LLC (an Oklahoma limited liability company) (Page 21 - Signatory)

Governing law

60 O.S. §501 et seq. (Oklahoma Unit Ownership Estate Act) (Page 2 - 'pursuant to 60 O.S. §501 et se)

Assessments & dues

Board determines total budget for fiscal year (unpaid bills and Reserve Fund Requirements), then computes monthly assessment per Unit proportionally based on Unit's undivided interest in Common Elements as set forth in Exhibit C (each Unit (Declaration Article 17.2, Exhibit C)

Collections & liens

Assessments are a continuing lien on each Unit until paid; lien may be foreclosed by suit; during pendency owner required to pay reasonable rental; UOE Association may bid and purchase at foreclosure sale. (Declaration Article 17.1, 17.8)

Reserves & fees

Required. Board sets aside Reserve Fund requirements for maintenance, repair, or replacement of Common Elements. Funds deposited in a separate commercial bank account. (Declaration Article 17.2, 17.6)

Leasing & rentals

Yes, Owner may rent Unit for terms of not less than thirty (30) days. (Declaration Article 9)

Home business

Units intended for garage condominiums; business use allowed; Owners may have signs identifying their business subject to Board approval. (Declaration Article 9, Article 10.6)

Voting & meetings

Each member (Unit Owner) is entitled to one vote per Unit, exercisable in person or by written proxy. (By-Laws Article 4, Declaration Article 1)

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