Sunrise Condominium (NJ)

Key facts from Sunrise Condominium (NJ)'s documents

Community type

Condominium

Legal name

Sunrise Condominium

Developer / declarant

Harry Bassford

Governing law

Condominium Act of the State of New Jersey (N.J.S.A. 46:8B-1 et seq.) (Master Deed Section 1)

Assessments & dues

Board determines common expenses in its sole discretion, collects proportionate share per unit's undivided interest in common elements (Master Deed Section 6; By-laws Article V)

Special assessments

Permitted for deficiencies, immediate needs, emergencies; also for improvements costing over $1,000 (requires approval of all votes at meeting) (By-laws Article VI Section 7 (last sente)

Collections & liens

Association has lien on each unit for unpaid common expenses, subordinate to first mortgages; after 30 days default Board must accelerate and file lien; after 180 days must foreclose (Master Deed Section 6; By-laws Article V)

Reserves & fees

Required reserves for deferred maintenance, replacement, capital improvements; amounts assessed and kept in interest-bearing savings accounts, appropriately earmarked (By-laws Article VI Sections 5(b), (c), ()

Leasing & rentals

Allowed with Board approval; term not more than one year unless approved by Board; Sponsor may lease without approval for term in excess of one year (Master Deed Section 18(a))

Architectural approval

Prior written approval of Association required for any structural additions, alterations or improvements in unit or to common elements (except Sponsor) (Master Deed Section 16)

Maintenance

Owner responsible for maintenance, repairs, replacements within unit including appliances, plumbing fixtures, windows, doors, interior decorating; Association responsible for common elements and limited common elements except for neglect by (Master Deed Section 14(a), (d); Section )

Insurance

Flood, fire, broad form extended coverage with vandalism and malicious mischief; public liability insurance; workers compensation; automobile collision and liability; other insurance as determined (By-laws Article V Section 2(f))

Voting & meetings

4 votes total, each unit entitled to one vote; initially all held by Grantor, transferred upon conveyance (By-laws Article II Section 2)

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