Ptarmigan House Condo

Key facts from Ptarmigan House Condo's documents

Reflects the 1973 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Ptarmigan House Condominium

Developer / declarant

ELEN, INC.

Governing law

Condominium Ownership Act of the State of Colorado (Recitals, Page 1)

Assessments & dues

Pro rata according to each owner's percentage interest in the general common elements (Section 19, Page 7)

Special assessments

Yes, for deficiency when insurance proceeds insufficient for reconstruction (Section 28(b)(2)) (Section 28(b)(2), Pages 13-14)

Collections & liens

Unpaid common expenses constitute a lien on the unit, superior except to taxes and first mortgage; enforceable by foreclosure like a mortgage; includes costs and attorneys fees. (Section 21, Pages 8-9)

Reserves & fees

Creation of a reasonable contingency or other reserve or surplus funds is included in common expenses (Section 19, Page 7)

Leasing & rentals

Yes, but subject to right of first refusal in Section 25 (Section 25, Pages 10-11)

Maintenance

Owner maintains interior of unit (including interior non‑supporting walls, finished surfaces, unit doors and windows, fixtures). Association maintains general common elements including roofs, foundations, etc. (Sections 16, 1(e), Pages 6, 1-2)

Insurance

Fire insurance with extended coverage, vandalism and malicious mischief, in amount of maximum replacement value of all condominium units; also casualty and public liability (Section 20, Pages 7-8)

Amendments

Revocation requires unanimous consent of all owners and all mortgage holders. Amendment requires 60% of owners (in interest) and unanimous consent of all mortgage holders. Percentage interests in common elements permanent unless all owners (Section 18, Pages 6-7)

Amenities

Sauna baths, lounge rooms, storage rooms, landscaping, gardens, parking areas (Section 1(e), Page 2)

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