Coastal Tide Land Condominium

Key facts from Coastal Tide Land Condominium's documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Land Condominium (Article 1, Section 1.12)

Legal name

The Coastal Tide Land Condominium

Units / lots

Same as total units: no more than seven (Section 2.2)

Developer / declarant

CB LEWES, LLC

Governing law

Delaware Uniform Common Interest Ownership Act (DUCIOA), Chapter 81 of Title 25 of the Code of Delaware (Recital B)

Assessments & dues

Executive Board prepares proposed periodic budget; budget is ratified unless rejected by two-thirds of all Unit Owners at a meeting. (Bylaws Section 5.1(b))

Collections & liens

Assessments are a lien against each Unit Owner's Unit. (Bylaws Section 5.1(c))

Reserves & fees

Lesser of 5% of overdue assessment or installment or $1,000; may be changed by Majority Vote of Executive Board. (Bylaws Section 5.3)

Leasing & rentals

Yes, without consent of Association or other Owners. (Bylaws Section 7.1)

Maintenance

Association maintains Common Elements; Unit Owner maintains its Land Unit, Limited Common Elements (none), and Land Unit Buildings. (Bylaws Section 5.5)

Insurance

Executive Board will obtain insurance policies relating to Common Elements in accordance with DUCIOA Section 81-313; policies must list each Unit Owner as insured for liability from Common Elements, waive subrogation, not voided by Unit Own (Bylaws Section 6.1)

Voting & meetings

Each Unit Owner entitled to number of votes equal to size of Land Unit in cubic feet (Percentage Interest); voting in proportion to percentage interest set forth in Exhibit C (Section 1.23; Bylaws Section 2.8(a))

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