Coral Gables Villas Condominium Association, Inc.

Key facts from Coral Gables Villas Condominium Association, Inc.'s documents

Community type

Condominium (Title and Article I, M)

Legal name

427 BILTMORE WAY CONDOMINIUM ASSOCIATION, INC. (Article I, D)

Governing law

Chapter 718, Florida Statutes (the Act) (Preamble and Article I, A)

Special assessments

Board may impose special assessments if budget insufficient. Also for improvements costing over $100,000 per calendar year, unit owner approval required. (Article XII, A; Article XI, C)

Collections & liens

Association has a lien on each condominium parcel for unpaid assessments, late fees, interest, attorneys fees. May foreclose like a mortgage. May also obtain money judgment. (Article XII, D and D.2)

Reserves & fees

Administrative late fee up to maximum amount provided in the Act (Article XII, D)

Voting & meetings

Each Unit is entitled to one (1) vote (Article VII, B)

Amendments

General amendments: proposed by Board or 1/3 of members, approved by majority of unit owners present at meeting with proxy allowed. Developer may amend to correct errors without owner consent if no material effect. Mortgagee consent require (Article IX, A through 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.