Colt Estates Condominium Association, Inc

Key facts from Colt Estates Condominium Association, Inc's documents

Reflects the 2013 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 2.1: 'Colt Estates is a condomin)

Legal name

Colt Estates Condominium Association, Inc

Developer / declarant

Szentkuti Associates Real Estate Development Corporation (Section 1.8)

Governing law

Connecticut Common Interest Ownership Act (Conn. Gen. Stat. §47-200 et seq.) (Preamble: 'the Connecticut Common Intere)

Assessments & dues

By budget adoption: within 30 days after proposed budget, Executive Board provides summary, sets meeting for ratification. (Section 19.5)

Special assessments

Non-budgeted assessments exceeding 15% of current annual operating budget require ratification by Unit Owners. (Section 19.6)

Collections & liens

Association has a statutory lien on a Unit for unpaid assessments. Lien is prior to most other liens except certain first/second security interests and tax liens. Foreclosure may be had; purchaser at foreclosure not liable for pre-sale asse (Section 19.4(b), (d), (i))

Reserves & fees

Reserves may be established for repair, replacement, or addition to Common Elements. (Section 19.1(d))

Pets

Yes, with approval of Executive Board. (Section 10.1(c): 'one (1) cat or one (1))

Leasing & rentals

Yes, subject to requirements of Declaration and Association. Leases must be in writing. (Section 10.2: 'Leases and rental agreeme)

Architectural approval

Yes, Executive Board must approve changes in appearance of Common Elements or exterior of a Unit. (Section 13.1(a)(ii): 'change the appeara)

Home business

Professional pursuits not requiring regular public visits are permitted, but no sign outside. (Section 10.1(a): 'professional pursuits )

Maintenance

Roof is part of Common Elements (boundaries exclude exterior ceiling, so roof is Common Element maintained by Association). (Section 4.3(a): 'exterior doors and ceil)

Insurance

$10,000 or 1% of policy face amount. (Section 22.2(b): 'deductible for insuran)

Use restrictions

Each Unit restricted to residential use as a single-family residence. (Section 10.1(a): 'Each Unit is restricte)

Voting & meetings

Each Unit has one equal vote; unless otherwise stated, the specified percentage means that percentage of all votes. (Section 9.2(c): 'Each Unit in the Common)

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