19 Valley View Terrace Condominium

Key facts from 19 Valley View Terrace Condominium's documents

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

Community type

Condominium

Legal name

19 Valley View Terrace Condominium

Developer / declarant

19 Valley View, LLC (Declaration, opening paragraph)

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration, Article 1(a))

Assessments & dues

Condominium Board prepares annual budget of anticipated Common Expenses and fixes Common Charges pro-rata according to Common Interests. (By-Laws Section 6.1)

Special assessments

Permitted; may be levied by Board for deficiencies or unanticipated expenses, allocated pro-rata according to Common Interests. (By-Laws Section 6.1(C) and definition in)

Collections & liens

If Unit Owner fails to pay Common Charges, Condominium Board may file a lien and foreclose. Not fully detailed in excerpts. (By-Laws Section 6.4 (partially visible))

Reserves & fees

Common Expenses include establishment and maintenance of general operating reserve or reserve fund for working capital, replacements, deficits. (Exhibit C(7) definition of Common Expens)

Leasing & rentals

Yes, units may be leased or subleased; subject to Right of First Refusal and other provisions. (By-Laws Article 7 and Article 13 of Decl)

Architectural approval

Prior written Board approval required for structural alterations. Non-structural alterations do not require approval. Modifications requiring Board approval: Board must respond within 15 days; failure to respond deems waiver. (By-Laws Section 5.2 (two paragraphs))

Home business

Any Unit may be partially used as a professional office by the owner only. (By-Laws Section 5.7(A))

Use restrictions

Units may be used in accordance with local law, Certificate of Occupancy; not more than one family per unit at a time. (Article 9(a) and By-Laws Section 5.7(A))

Voting & meetings

Each Unit Owner (including Sponsor) entitled to one vote per Unit owned. Co-owners each entitled to one vote. Proxy allowed. Sponsor holds all votes for Unsold Units. (By-Laws Section 4.8)

Amendments

Amendment requires vote of all Unit Owners, recorded in Register's Office. Effective upon recording. (Declaration Article 18(a))

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