Butternut Lane Condominium

Key facts from Butternut Lane Condominium's documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Title and §1: 'Butternut Lane Condominiu)

Governing law

Chapter 183A of the Massachusetts General Laws (WHEREAS clause: 'to the provisions of Ch)

Assessments & dues

Board estimates common expenses at least 30 days before fiscal year and assesses each unit owner based on percentage undivided interest; payable monthly in advance or quarterly (Rules say quarterly) (Bylaws §3: 'At least thirty (30) days pr)

Special assessments

Board may make supplemental assessments if actual expenses exceed budget or likely to be incurred (Bylaws §3: 'the Board of Managers shall )

Collections & liens

Unpaid assessments plus interest constitute a lien on the unit under M.G.L. c. 183A §6; foreclosure sale by first mortgagee extinguishes subordinate assessment liens (Bylaws §3: 'shall constitute a lien on t)

Reserves & fees

Board may set aside common funds as reserve or contingent funds (Bylaws §3: 'set aside common funds of th)

Pets

Yes (§13(C): 'Two customary household pets ma)

Leasing & rentals

Yes, subject to Association approval and right of first refusal on sale (§15: 'the right to sell, rent or mortgag)

Insurance

Board shall obtain casualty/physical damage insurance on Units and Common Elements, excluding owner's personal property and improvements; also public liability insurance for Common Elements (Bylaws §4(A) and (D): 'The Board of Mana)

Use restrictions

Yes; Units intended only for residential purposes (§12: 'The Units are intended only for re)

Voting & meetings

Proportional to percentage undivided interest in common areas (§2: 'all Unit Owners shall be members...)

Amendments

General amendments require 100% of unit owners (by undivided interests) consent, with exceptions; special amendments allowed by Declarant while they own units to correct errors, comply with law or lender guidelines (§17(a): 'consented to by Unit Owners ent)

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