7 Elaine Condominium

Key facts from 7 Elaine Condominium's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Page 3 Section 1: submit the Property to)

Legal name

THE 7 ELAINE CONDOMINIUM

Units / lots

3 residential units (and 5 storage units, not separately owned) (Page 3 Section 4: three (3) residential )

Developer / declarant

JO EQUITIES, LLC

Governing law

Article 9-B of the Real Property Law of the State of New York (New York Condominium Act) (Page 3 Section 1)

Assessments & dues

Not fixed; determined annually by Board (By-Laws Article VI Section 1)

Special assessments

Board may assess Common Charges for working capital, reserve fund, deficit, and other proper purposes (By-Laws Article VI Section 1)

Collections & liens

Board has a lien on the Unit for unpaid Common Charges and may foreclose under Real Property Law §339-z; also may obtain money judgment (By-Laws Article VI Sections 5 and 6)

Reserves & fees

Board may include in Common Expenses a reserve fund for replacements (By-Laws Article VI Section 1)

Leasing & rentals

Units may be rented; no separate rental of portion of a Unit (including Limited Common Elements) is permitted (By-Laws Article VI Section 10(e); Declar)

Architectural approval

Prior written consent of Board required for any structural addition, alteration or improvement in or to a Unit that affects the exterior; non-structural alterations do not require approval (By-Laws Article VI Section 11)

Home business

Home occupation permitted if allowed by applicable zoning law, building code, and other regulations; professional offices by a resident permitted with Board consent and zoning compliance (By-Laws Article VI Section 10(a))

Signs & flags

Sponsor may erect signs on the Property for sale of Units and leasing; otherwise not mentioned (By-Laws Article VI Section 10(a)(i) and )

Maintenance

Association is responsible as part of Common Elements (Declaration Paragraph 7(a)(ii): roofs (e)

Use restrictions

Units shall be used for private residences only, except as permitted below (By-Laws Article VI Section 10(a))

Voting & meetings

Each Unit Owner casts one vote per 1% of Common Interest on all matters except Board elections; for Board elections, one vote per 0.5% of Common Interest per member to be elected (By-Laws Article II Section 7)

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