Conservancy Condominium

Key facts from Conservancy Condominium's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Recital C, condominium established under)

Legal name

Conservancy Condominium

Units / lots

153 (Recital B: 'up to a total of One Hundred)

Developer / declarant

Miller and Smith Homes at the Peninsula, LLC (Opening paragraph)

Governing law

Delaware Unit Property Act, Chapter 22, Title 25 of the Delaware Code (Recital C)

Assessments & dues

established by Council based on budget (Paragraph 8: 'It shall be an affirmative)

Special assessments

allowed for capital improvements, unexpected repair, or replacement; subject to limitations in Code (Paragraph 8: 'the Council may levy... a )

Collections & liens

assessment is a continuing lien on the Unit, may be foreclosed like mortgage (Paragraph 8: 'Each assessment shall be a)

Reserves & fees

capital reserve fund required; surplus from assessments may be set aside (Paragraph 8: 'The Council shall levy... )

Leasing & rentals

yes, subject to Condominium Documents and Master Declaration (Paragraph 10: 'All leases shall be expre)

Architectural approval

true (Paragraph 13.g: 'No Unit Owner... may ma)

Maintenance

roof structure and surface are Common Elements (for buildings) or Limited Common Element for Detached Unit (Paragraph 6.a.vii: 'the roof structure a)

Use restrictions

true (Paragraph 13.a: 'No Unit... shall be use)

Voting & meetings

Unit Owner entitled to number of votes equal to percentage interest in Common Elements (Paragraph 7: 'each Unit Owner shall be e)

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