Morristown Square a Condominium

Key facts from Morristown Square a Condominium's documents

Reflects the 2013 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 1.1, 2.10)

Governing law

Condominium Act, N.J.S.A. 46:8B-1 et seq. (Article 1.1)

Assessments & dues

Set by Board; not fixed in Master Deed. (Article 8.4)

Special assessments

Permitted. If greater than $25,000 (adjusted by CPI-W) requires approval by two-thirds of Unit Owners in good standing. Sponsor exempt from such assessments. (Article 8.10, Article 8.12)

Collections & liens

Unpaid assessments and other charges are a continuing lien on the Unit and may be foreclosed in same manner as mortgage foreclosure. (Article 8.2)

Reserves & fees

Sponsor shall pay replacement reserves for unsold Units in Building with certificate of occupancy (Article 8.8). Master Deed does not mandate a minimum reserve fund. (Article 8.8)

Pets

Yes, limited. (Article 9.1(h))

Leasing & rentals

Yes, with restrictions. (Article 9.3)

Architectural approval

Yes. Any structural additions, alterations, improvements in or to Unit or Common Elements; exterior color/decorative changes; satellite dishes if deviating from set standards (Article 9.2, 9.1(x)). (Article 9.2, 9.1(x))

Home business

Not explicitly prohibited but restrictions on commercial vehicles and signs suggest no business use. (Article 9.1(f), 9.1(j))

Maintenance

Roofs are Common Elements (Article 5.1(j)); thus Association responsible for maintenance, repair, replacement. (Article 5.1(j), Article 8.16(b))

Use restrictions

Yes. Units shall be used only as private residences (except Sponsor's sales/construction offices). (Article 9.1(a))

Voting & meetings

Each Unit Owner in good standing has one weighted vote equal to percentage interest in Common Elements for all matters except election of Unit Owner representatives to the Board (one unweighted vote per unit). Sponsor may vote weighted for (Article 6.5)

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