Verandah Bay Condominium

Key facts from Verandah Bay Condominium's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Verandah Bay Condominium

Units / lots

2 (Initial Units), maximum 12 upon expansion (Section 4: There are presently two (2) U)

Developer / declarant

DEVA DEVELOPMENT, Inc.

Governing law

Delaware Uniform Common Interest Ownership Act, 25 Del. C. Section 81-101 et seq. (Section 1, ... to the provisions of the )

Collections & liens

Association may enforce lien created by Condominium Documents against any Unit (Section 35: enforce the Condominium Docu)

Reserves & fees

Association shall maintain a fully funded repair and replacement reserve for General Common Elements based on a current reserve study, to the extent required by the Act (Section 28: the Association shall ... ma)

Architectural approval

Prior written approval of Council required for changes to exterior appearance of Unit, Common Elements, or Limited Common Elements, including painting, staining, adding fixtures (Section 9(j): shall not be changed nor s)

Home business

Prohibited (Section 9(e): no industry, business, tra)

Signs & flags

For Sale signs allowed only after For Sale Sign Period (first sale milestone or 75% sold); maximum 12"x18" on front lawn; For Rent signs prohibited without Council consent; Declarant may place signs on unsold units (Section 9(f): For Sale and For Rent Sign)

Use restrictions

Each Unit shall be used only for residential purposes and no industry, business, trade, occupation shall be conducted (Section 9(a): Each Unit shall be used on)

Voting & meetings

Based on Percentage Interest in Common Elements; Majority = more than 50% of aggregate undivided interest (Section 2(aa): Majority ... more than fi)

Amendments

Majority vote of Unit Owners, except material amendments require 67% vote and approval of Eligible Mortgagees holding at least 51% of mortgages; also Declarant has power of attorney to amend for expansion (Sections 5,6,20) (Section 20: may be amended by the vote o)

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