Tci Condominium Association Inc

Key facts from Tci Condominium Association Inc's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1.0: 'establishes the TC1 in acc)

Governing law

N.J.S.A. 46:8B-1 et seq. (New Jersey Condominium Act) (Section 1.0, Section 3.10)

Age restriction

Not an age-restricted community under federal Fair Housing Amendments of 1988 (Section 10.1: 'TC1 is not an age—restric)

Assessments & dues

Not fixed; set annually by Board based on budget (Section 15.1: 'It shall be an affirmativ)

Special assessments

Allowed for capital improvements; needs 2/3 vote of Eligible Votes present at meeting with quorum of 50% if total exceeds $10,000; otherwise Board may levy (Section 15.5: 'Board may levy, in any as)

Collections & liens

Unpaid assessments constitute a continuing lien on the Unit; may be foreclosed in same manner as mortgage (Section 15.8: 'Each assessment shall be )

Reserves & fees

Capital replacement and deferred maintenance reserve expenses are included as Carrying Charges (Section 3.8: 'operating, capital replace)

Pets

Implied allowed; subject to Use Restrictions including banning malicious breeds (Section 14.2(a): 'Prohibit the maintenan)

Use restrictions

Units are intended for independent use as residential dwellings (Section 3.26: 'Unit... means a part of t)

Voting & meetings

One vote per Unit; total Authorized Votes = 2 (Section 3.2: 'Authorized Votes means 2 v)

Amendments

Master Deed may be amended by vote of at least two-thirds of Unit Owners present with quorum of 50% of Eligible Votes; certain sections require two-thirds of all Eligible Votes; Board may amend for legal compliance upon counsel opinion (Section 29.1: (a), (b), (c); also Articl)

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