Valley Point Estates

Key facts from Valley Point Estates's documents

Reflects the 2024 governing documents — figures and rules are as originally recorded and may have changed since.

Governing law

Michigan Condominium Act, Act 59 of Public Acts of 1978, as amended (Master Deed first page)

Special assessments

Allowed; increased costs due to owner improvements may be specially assessed; Association may impose special assessments for maintenance shortfalls (Article IV, Sections 4.3(a) and 4.3(b))

Collections & liens

Nonpayment of assessments creates a lien that can be enforced by legal action, foreclosure, and fines (Article IV, Section 4.5(b))

Reserves & fees

Adequate reserve fund for periodic replacement of Common Elements must be established and funded by regular payments (Exhibit A, Bylaws Article II, Section 2.)

Voting & meetings

Each Unit has equal percentage of value which determines vote weight; each Co-owner has one vote per Unit owned (Article V, Section 5.2; Article IX, Sect)

Amendments

Non-material amendments by Developer during Development Period, thereafter by Association without owner consent; material amendments require 2/3 vote of Co-owners and mortgagees; certain changes require affected party consent; developer can (Article IX, Sections 9.1(a) through 9.1()

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