36 Old Nyack Tnpk Condominium

Key facts from 36 Old Nyack Tnpk Condominium's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 1: Submission of Property)

Legal name

36 Old Nyack Tnpk Condominium

Developer / declarant

34 Old Nyack TPK LLC

Governing law

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

Assessments & dues

Board determines and levies monthly assessments (common charges) payable in advance; may increase if required (By-laws Article III Section 5 item 1)

Special assessments

Allowed; Board may levy special assessments for any lawful purpose (including litigation and improvements) (By-laws Article III Section 5 items 10, )

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 (Declaration Article 12; By-laws Article )

Reserves & fees

Board may charge delinquent Unit Owner a monthly fee not more than $15 (By-laws Article VI Section 2)

Leasing & rentals

Yes, implied by provision that prior to sale or lease common charges must be paid (By-laws Article XI Section 1) (By-laws Article XI Section 1)

Architectural approval

Yes, for exterior alterations, alterations affecting common elements, fences/gates (By-laws Article VIII Sections 7 and (d))

Maintenance

Roof is part of common elements, so Board is responsible (Declaration Article 5 (Common Elements i)

Insurance

Fire insurance at full replacement value of buildings; initially at least $600,000 after closing of all Units; public liability insurance of $1,000,000 covering bodily injury and property damage; maintenance of such insurance as Board deter (By-laws Article VII Sections 1 and 2)

Use restrictions

All Units shall be used for residential purposes only (By-laws Article VIII Section 2)

Voting & meetings

Each Unit Owner has one vote for each percentage of common interest (Declaration Article 8); each Unit Owner entitled to one vote per Unit at meetings (By-laws Article II Section 2); each Unit shall appoint a Manager who votes in person or (Declaration Article 8; By-laws Article I)

Amendments

Declaration amendments require 80% of Unit Owners in number and common interest plus approval of mortgagees representing at least 51% of unit votes for certain amendments (Article 10); By-laws amendments require 66 2/3% of Unit Owners in nu (Declaration Article 10; By-laws Article )

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