Laurel Pines Condominium

Key facts from Laurel Pines Condominium's documents

Reflects the 1985 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1)

Legal name

THE LAUREL PINES CONDOMINIUM

Developer / declarant

Laurel Street Partnership

Governing law

Title 25, Chapter 22 of the Delaware Code, known as the Unit Property Act (Section 1)

Assessments & dues

Based on percentage interests in common elements (Schedule 5.3) (Schedule 5.3 (representing their respect)

Collections & liens

Assessments become a lien on the unit; priority over all liens except first mortgages; personal obligation of record owner; Council may enforce under Delaware Unit Property Act and Code of Regulations (Section 9.7 (Priority of Liens))

Reserves & fees

Mentioned in context of fidelity bond: reserve funds of the Association (Section 9.4(c)(i) (estimated maximum of )

Leasing & rentals

Yes, units may be rented; all leases must be in writing and expressly subject to Declaration, Code of Regulations, and Rules (Section 7.1 (may be sold or rented ... p)

Architectural approval

Council's consent required for alterations to units (Schedule 5.1 (any unit owner who obtains)

Home business

Prohibited (except model/sales/rental offices by Declarant) (Section 7.1 (no unit shall be used for a)

Insurance

Council shall obtain multi-peril master/blanket policy on entire property (units and common elements) including standard fixtures, building service equipment, and personal property held by Council; amount 100% of insurable value (replacemen (Section 9.4(a) (Fire and Hazard))

Use restrictions

Each unit shall be used exclusively for residential purposes as a single family dwelling (Section 7.1 (Residential Purposes Only))

Voting & meetings

Each unit owner has votes equivalent to percentage interest in common elements (Section 8 (cast votes equivalent in numb)

Amendments

Declarant may amend unilaterally while owning units to cure ambiguities, correct inconsistencies, or change interior design of its units; otherwise 75% of total unit owner vote (except matters requiring more than 75%); certain amendments re (Section 9.9 (Amendments))

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