Seashore Oaks Condominiums

Key facts from Seashore Oaks Condominiums's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Recital 2, Page 1)

Legal name

Seashore Oaks Condominiums

Units / lots

41 (Phase I initial condominium); full development planned for 190 units (Page 1: 'Phase I containing 41 units' an)

Developer / declarant

Seashore Development Group, LLC

Governing law

Mississippi Condominium Law, §89-9-1 et seq., MCA (Page 1, Recital 2; Section 1.1)

Assessments & dues

Assessments collected by the Association on a monthly basis; each Unit Owner's proportionate share based on percentage ownership in Common Elements and Project Common Elements; budget-determined (Section 6.03)

Collections & liens

Association granted a lien upon each Unit and its appurtenant interests for unpaid assessments; lien includes late charges, penalties, interest, attorney's fees; Association may foreclose; in suit for foreclosure Association entitled to ren (Sections 6.05, 6.06)

Reserves & fees

Association shall establish and maintain an adequate reserve fund for the periodic maintenance, repair, and replacement of improvements to the Common Elements and Limited Common Elements, maintained out of regular assessments (Section 7.15)

Maintenance

Roof is part of Common Elements (Section 5.12 F); Association responsible for maintenance of Common Elements (Section 5.12 F, 8.02)

Use restrictions

All Units of the condominium shall be for residential use only, except as may be otherwise stated in the Declaration (Commercial Units permitted) (Section 5.09(b))

Voting & meetings

Each Unit entitled to one (1) vote, the numerical value of which shall be the percentage of undivided interest in the Common Elements assigned to the Unit (Section 7.04)

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