Atlas Street Condominiums

Key facts from Atlas Street Condominiums's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Atlas Street Condominiums

Units / lots

2 initially (Unit 1 and Unit 2) (Master Deed, Article V, Section C)

Developer / declarant

Morton Industries, llc

Governing law

Michigan Condominium Act, Act 59 of the Public Acts of 1978, as amended (Master Deed, Preamble)

Special assessments

May be levied by Board with approval of more than 60% of all Co-owners in value and in number, except for certain emergency assessments or under $1,000 which Board may levy alone (Condominium Bylaws, Article II, Section )

Collections & liens

Association may collect delinquent assessments by suit at law or foreclosure of statutory lien; redemption period 6 months (or 1 month if abandoned). Foreclosure by advertisement allowed with notice and affidavit. (Condominium Bylaws, Article II, Section )

Reserves & fees

Adequate reserve fund for periodic replacement of Common Elements; minimum 10% of current annual budget on a non-cumulative basis (Condominium Bylaws, Article II, Section )

Voting & meetings

Presence in person or by proxy of one fourth in number of Co-owners qualified to vote (Condominium Bylaws, Article I, Section 2)

Amendments

If no Co-owner other than Developer, Developer may unilaterally amend. If other Co-owners exist, amendment without material change may be made without consent; amendment with material change requires 2/3 vote of Co-owners and sometimes 2/3 (Master Deed, Article IX)

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