Andover

Key facts from Andover's documents

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

Community type

Horizontal Property Regime (Condominium) (Page 3: 'creates a Horizontal Property R)

Legal name

Andover Place

Governing law

Horizontal Property Law of the State of Indiana (IC 32-25-1 et seq.) (Section 1(a): 'Act means the Horizontal )

Assessments & dues

Common Expenses assessed according to Percentage Interest; Percentage Interest based on number of units owned divided by total units (Section 15: 'Percentage Interest... numb)

Special assessments

May be imposed for reconstruction costs if insurance proceeds insufficient (Section 17(b): 'costs for restoring... s)

Collections & liens

Association may foreclose lien for unpaid assessments; lien subordinate to first mortgage (Section 27(b): 'the lien against the Own)

Reserves & fees

Surplus from reconstruction may be retained as reserve (Section 17(i): 'such sums may be retaine)

Leasing & rentals

Yes, with restrictions (Section 19(a): 'No Owner shall lease his)

Architectural approval

Yes, for alterations affecting Common Areas or structural integrity (Section 14: 'No Owner shall make any alt)

Use restrictions

Each Condominium Unit limited to residential use (Section 18: 'each of the Condominium Uni)

Voting & meetings

Each Owner entitled to cast a vote commensurate with the number of Condominium Units owned (Section 11: 'Each Owner shall be entitle)

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