Drop Anchor Condominium

Key facts from Drop Anchor Condominium's documents

Reflects the 1986 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Text refers to 'condominium' and 'units')

Legal name

Drop Anchor Condominium

Governing law

Delaware Condominium Act (Reference to 'Delaware Uniform Condomini)

Assessments & dues

To be determined by board (Article on assessments: board sets annua)

Special assessments

May be levied by Board (Article on assessments: special assessme)

Collections & liens

Association may file lien and foreclose (Article: enforcement includes lien and f)

Reserves & fees

Interest on overdue assessments (Article on late payments: interest charg)

Pets

Pets allowed subject to restrictions (Article VII: pets permitted)

Leasing & rentals

Leasing permitted subject to conditions (Article IX: leasing restrictions)

Parking & vehicles

Not allowed (Article VIII: no street parking)

Fences

Fences permitted with approval (Article X: fences subject to ARC approva)

Architectural approval

Yes, for any exterior changes (Article X: Architectural Control Committ)

Home business

Not allowed unless specifically permitted (Restrictive covenants: no commercial use)

Signs & flags

United States flag or association flag (Article on flags: only certain flags all)

Setbacks / home size

As per plot plan and as approved (Article X: setbacks defined in recorded )

Maintenance

Association maintains roof (Article XII: roof is common element)

Insurance

Association maintains property insurance on common elements (Article XIII: insurance requirements)

Use restrictions

Units shall be used only as residences (Article V: use restrictions)

Voting & meetings

One vote per unit owner (Section on voting rights; each unit has )

Amendments

Amendment requires 2/3 vote of unit owners (Article XVIII: 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.