20 Lincoln Avenue Condominium

Key facts from 20 Lincoln Avenue Condominium's documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration title; Article FIRST)

Legal name

20 Lincoln Avenue Condominium

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration FIRST; By-laws Article I Sec)

Assessments & dues

Board of Managers determines and levies monthly assessments based on budget; payable in advance; pro-rata according to common interest (By-laws Article III Section 4(1) and Art)

Special assessments

Allowed if necessary; levied and paid in same manner as regular assessments (By-laws Article III Section 4(1) and Art)

Collections & liens

Unpaid common charges constitute a lien on the unit prior to all other liens except taxes and first mortgages; may be foreclosed like a mortgage; suit for money judgment also obtainable without waiving lien (Declaration TWELFTH; By-laws Article VI )

Reserves & fees

Interest: maximum rate permitted by New York law (Declaration TWELFTH; By-laws Article IX)

Leasing & rentals

Yes, subject to Board's right of first refusal and payment of all unpaid common charges (By-laws Article XI Section 1)

Architectural approval

Yes for exterior alterations, structures on common elements, alterations impairing structural soundness (Declaration SEVENTEENTH(b); By-laws Arti)

Maintenance

Unit owner responsible for maintenance, repair, and replacement of all portions of their Unit and limited common elements; Board responsible for common elements. Board provides snow plowing for roadways. (By-laws Article III Section 5)

Insurance

Board to carry fire and extended coverage insurance on buildings, and public liability insurance (By-laws Article VII Section 1)

Use restrictions

Yes (Declaration SEVENTEENTH(i): 'Occupancy o)

Voting & meetings

Each Unit Owner has one vote per percentage of common interest (Declaration EIGHTH; By-laws Article II S)

Amendments

Declaration: 66-2/3% vote of Unit Owners; material adverse amendments require consent of mortgagees representing at least 51% of unit votes subject to first-lien mortgages. By-laws similar. (Declaration TENTH; By-laws Article X; Ad)

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