10 Walter Drive Condominium

Key facts from 10 Walter Drive Condominium's documents

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

Community type

Condominium (Article 1; throughout)

Legal name

10 Walter Drive Condominium

Governing law

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

Assessments & dues

Board determines Common Charges and Special Assessments pro rata based on Common Interests (By-Laws Article 6; Section 2.4(v))

Special assessments

Allowed; defined as charges allocated by Board pro rata based on Common Interests (Declaration Exhibit C definition (33); B)

Collections & liens

Condominium Board may perfect a lien against a Unit for unpaid Common Charges; default remedies in By-Laws Article 9 (By-Laws Section 6.4, Article 9)

Reserves & fees

Board may assess Common Charges for creation of or addition to a reserve, contingency or surplus fund, but subject to Sponsor's consent during control period (By-Laws Section 2.7)

Leasing & rentals

Units may be sold or leased; Right of First Refusal applies to both sales and leases (By-Laws Article 7)

Maintenance

Unit Owner responsible for maintenance, repair, replacement of his/her Unit; Board responsible for Common Elements (By-Laws Section 5.1(A))

Insurance

Fire insurance with all risk extended coverage, vandalism, malicious mischief; insuring Building including Units and fixtures but not personal property of owners; comprehensive general liability; rent insurance; workers' comp; boiler and ma (By-Laws Section 5.4(A)-(C))

Use restrictions

Each Unit shall be used in accordance with local law, zoning, Certificate of Occupancy, and not more than one family may occupy a Unit (Declaration Article 9(a))

Voting & meetings

Each Unit Owner has one vote per unit owned (By-Laws Section 4.8)

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