Villa Medici Condm

Key facts from Villa Medici Condm's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1.2, 1.3)

Legal name

VILLA MEDICI CONDOMINIUM ASSOCIATION, INC. (Section 2.4)

Units / lots

379 (Section 3.1: three hundred seventy nine )

Governing law

Florida Condominium Act, Chapter 718, Florida Statutes (Section 2.1 (definition of Act))

Special assessments

Defined as non-recurring charges not in nature of capital improvements; can be levied by Board. If exceeds 3% of estimated operating budget, requires majority approval of voting interests at a meeting with quorum. (Section 13.2(a),(c))

Collections & liens

Association has lien on each condominium parcel for unpaid assessments; effective from recording of Declaration except as to first mortgages; claim of lien must be recorded; foreclosure action in manner of mortgage foreclosure; right to mon (Section 13.4, 13.5, 13.8)

Reserves & fees

greater of $25.00 or 5% of each delinquent installment (Section 13.4)

Voting & meetings

Each Unit entitled to one vote (Section 5.2)

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