Victoriana

Key facts from Victoriana's documents

Reflects the 1984 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Master Deed creates Victoriana Condomini)

Legal name

Victoriana Condominium Association

Governing law

New Jersey Condominium Act, N.J.S.A. 46:8B-1 et seq. (Second Amendment p.3; Sheriff's Deed doc)

Assessments & dues

Percentage interest calculated by dividing 1 by total number of units; used to allocate common expense assessments and common surplus (Second Amendment p.4 (§(c)))

Collections & liens

Common expense assessments are a continuing lien upon the unit, effective from recording of claim of lien; subordinate to prior taxes, first mortgages recorded before delinquent assessment, and prior recorded liens. Personal obligation of u (Second Amendment p.4-5 (§(e)))

Reserves & fees

While Developer maintains majority on Board, fidelity bond must include accumulated reserves; annual audit covers reserve accounts. (Second Amendment p.6 (¶4); First Amendme)

Leasing & rentals

Yes, but no transient or hotel purposes. Minimum lease term 30 days. Association must receive written notice at least 30 days prior, including name, address, telephone number of persons involved. (Second Amendment p.8 ('LEASING OF UNIT'))

Amendments

Material amendments: vote of at least 75% of all unit owners and 67% of eligible mortgage holders. Non-material: 75% of all unit owners if no objection by mortgage holder after 30 days. Developer may add additional phases within 7 years by (Second Amendment p.12-17 (AMENDMENT OF M)

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