Bay Acres Condo

Key facts from Bay Acres Condo's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Background C: 'submit the Property into )

Legal name

BAY ACRES CONDOMINIUM ASSOCIATION (Section 1.1)

Developer / declarant

Joseph R.

Governing law

New Jersey Condominium Act N.J.S.A. 46:8B-1 et seq. (Background C)

Assessments & dues

Not fixed; determined annually by Association estimate. (Master Deed Section 11.1.1)

Special assessments

Allowed: By-Laws Section 2.2 permits lump sum assessment for immediate need or emergency. Also Remedial Assessment per Master Deed 4.4. (By-Laws Section 2.2; Master Deed Section)

Collections & liens

Unpaid assessment becomes a lien upon recording of Claim of Lien. Foreclosure allowed; receiver may be appointed; Association may bid at foreclosure sale. (Master Deed Section 12)

Reserves & fees

Association shall maintain a reasonable reserve for emergencies, contingencies, and uncollected accounts. Fund kept in interest-bearing securities or savings accounts. Additional cash on hand allowed. (By-Laws Section 2.8)

Pets

Domestic pets may be kept subject to Association rules; animals, livestock, poultry prohibited. (Master Deed Section 14.5)

Leasing & rentals

Unit Owners may lease their Units subject to reasonable rules adopted by Association. (Master Deed Section 14.2)

Parking & vehicles

Unit A may keep a boat or other watercraft and equipment as deemed necessary. (Master Deed Section 31)

Architectural approval

Yes: prior written approval of Board (or Association) required for alterations to interior partitions, changes to Common Elements, painting exterior, etc. (Master Deed Sections 3.1.3, 14.7; By-Law)

Maintenance

Association responsible (roof is Common Element). (Master Deed Sections 4.1, 5.1.4)

Insurance

Association insures 'Building' (common elements, limited common elements, and interior walls within units). Coverage: 100% replacement value of structures, comprehensive personal liability and casualty. Does not cover contents of individual (Master Deed Sections 21.1, 21.6)

Use restrictions

Units may be occupied and used only as a single family residence. (Master Deed Section 14.1)

Voting & meetings

One vote per Unit; no fractional voting; casting vote within exclusive discretion of Unit Owner. (Master Deed Section 10; By-Laws Section )

Amendments

Master Deed: majority vote of members, recorded. By-Laws: unanimous vote of members. Some provisions require unanimous consent of Unit Owners and mortgagees (e.g., amendment to Section 11.1). (Master Deed Sections 26, 11.1.4; By-Laws)

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