Silas Condominium

Key facts from Silas Condominium's documents

Reflects the 2025 governing documents — figures and rules are as originally recorded and may have changed since.

Units / lots

100 maximum; initially 12 Phase 1 Units (Recitals: 'up to a total of one hundred )

Governing law

N.J.S. 46:8B-1 et seq. (Establishment of Condominium (before Art)

Collections & liens

Each Assessment is a continuing lien on the Unit; unpaid assessments may be foreclosed in the same manner as a mortgage foreclosure. Suit for money judgment may be maintained without waiving lien. (Article VII Section 7.02)

Reserves & fees

Annual budget must include capital reserve funds for replacement/repair of Common Elements. Reserve contributions from owners must be kept in a separate FDIC-insured account, not commingled during Developer control. (Article VII Sections 7.03 and 7.08)

Maintenance

Roof is part of General Common Elements, thus Association responsibility. (Article V Section 5.01(i) (roof listed a)

Voting & meetings

One unweighted vote per Unit for Board elections; one weighted vote equal to percentage interest in Common Elements for other matters. Developer may not vote unsold Units for Board elections, amendments changing use, or reducing Common Elem (Article VI Section 6.05)

Amendments

Master Deed may be amended as per Article XVII; Developer may annex additional units by recording Amendments and Supplements without Owner consent. (Article III Section 3.02 and Article XVI)

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