Maple Terrace Condominium

Key facts from Maple Terrace Condominium's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Section 1)

Legal name

Maple Terrace Condominiums

Developer / declarant

Real Estate Investments Northeast, LLC

Governing law

Massachusetts General Laws, Chapter 183A, as amended (Section 1, Section 16)

Assessments & dues

Proportionate to Unit's undivided interest in Common Elements (Section 14(b))

Collections & liens

Lien for common expenses subordinate to first mortgage; foreclosure of first mortgage extinguishes subordinate lien for assessments that became payable prior to sale or transfer; such extinguished assessments may be reallocated as common ex (Section 17)

Reserves & fees

Adequate reserve fund for maintenance, repair and replacement of common areas that must be replaced on a periodic basis; payable in regular installments rather than special assessments (Section 15(d))

Leasing & rentals

Yes, but all leases shall be in writing and specifically subject to the Master Deed, by-laws and Rules and Regulations (Section 12)

Maintenance

Roof is part of Common Elements (not included as part of Units), therefore association responsibility (Section 7(b) and Section 6(b) boundaries)

Use restrictions

Units and Building intended for residential purposes (Section 11)

Voting & meetings

Proportionate to undivided interest in Common Elements; each Unit has 50% (Section 14(c) and Exhibit A)

Amendments

Master Deed may be amended by instrument (1) signed by Owners of Units entitled to 75% or more of beneficial interest in Common Elements, (2) signed by majority of Trustees, (3) recorded in Hampden County Registry of Deeds; special amendmen (Section 14(g))

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