29 Old Nyack Condominium

Key facts from 29 Old Nyack Condominium's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 1: "PURSUANT TO ARTICLE 9-B OF THE )

Legal name

29 OLD NYACK CONDOMINIUM

Developer / declarant

23 OLD NYACK T.

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Page 1: "PURSUANT TO ARTICLE 9-B OF THE )

Assessments & dues

Board determines Common Charges and Special Assessments based on budget, allocated pro-rata according to Common Interests. (By-Laws Section 2.4(v), 6.1)

Special assessments

Permitted; allocated pro-rata according to Common Interests. For capital improvements or major repairs subject to 75% Unit Owner approval unless required by law or insurance. (By-Laws Section 2.5(B)(iii), Definition )

Collections & liens

Condominium Board may file a lien against a Unit for unpaid Common Charges or Special Assessments. Foreclosure allowed. (By-Laws Article 6 (Section 6.2, 6.4) - r)

Reserves & fees

Common Expenses include establishment and maintenance of a reserve fund for replacements and working capital. (Definition 7 in Exhibit C: "the establis)

Leasing & rentals

Yes, but subject to Right of First Refusal by Board. Leasing restrictions may be imposed by amendment (requires mortgagee consent). (By-Laws Article 7 (Right of First Refusa)

Parking & vehicles

Each Unit has 2 parking spaces as Limited Common Elements. There are also 4 outdoor common area parking spaces (likely for guests). (Declaration Article 8(a); By-Laws Sectio)

Architectural approval

Yes, for alterations, additions, improvements to Units. Must not affect other units or structural integrity. Approval may require indemnification and agreement. If cost exceeds $5,000 in calendar year, need Unit Owner and Mortgage Represent (By-Laws Section 5.2, 5.3)

Use restrictions

Units may be occupied only by individual owner, certain family members, guests, or as permitted by Board. No transient occupants. (By-Laws Section 5.7(B))

Voting & meetings

Each Unit Owner (including Sponsor) casts one vote per Unit owned. For Board elections, each Unit Owner elects one Board Member. (By-Laws Section 4.8, 4.9(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.