434 Union Street Homeowners Association, Inc.

Key facts from 434 Union Street Homeowners Association, Inc.'s documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (DECLARATION OF THE 434 UNION STREET COND)

Legal name

434 Union Street Homeowners Association, Inc.

Units / lots

3 (tax lots 1001-1003) (Declaration Fourth: The Condominium will)

Developer / declarant

Union Street Capital 434 LLC (DECLARATION - SPONSOR: UNION STREET CAPI)

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration FIRST: Submission of Propert)

Assessments & dues

Board of Managers prepares budget at least annually and allocates common charges among unit owners according to their common interests (By-laws Article VII Section 1)

Special assessments

Board may vote a special assessment in excess of monthly amount if required (By-laws Article III Section 4(a)(1): The)

Collections & liens

Unpaid common charges constitute a lien on the unit prior to all other liens except taxes and first mortgage; may be foreclosed like a mortgage (Declaration Twelfth; By-laws Article VII)

Reserves & fees

Separate fund for future capital repairs and improvements, funded yearly at 10% of the budget for that year (By-laws Article VII Section 1)

Leasing & rentals

Only the entire unit may be rented; no transient tenants allowed; no portion of a unit may be rented (other than entire unit) (By-laws Article VII Section 12(d))

Architectural approval

Alterations to exterior or common elements require written consent of Board; interior alterations impairing structural soundness also require consent (Declaration Seventeenth(b))

Use restrictions

Yes, with exception that a unit may be used as a professional office if owner resides therein (Declaration Seventeenth(i): the use for )

Voting & meetings

Each unit owner has one vote per unit owned (except the Board cannot vote for board elections) (By-laws Article II Section 2: Each Unit )

Amendments

During first 20 years, amendment by 75% in number and common interest of unit owners; thereafter 100% (Declaration Nineteenth C). Also Declaration Tenth requires 100% for certain changes. (Declaration Nineteenth C and Tenth)

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