115 Tetiev Way Condominium

Key facts from 115 Tetiev Way Condominium's documents

Community type

Condominium

Legal name

115 TETIEV WAY CONDOMINIUM

Developer / declarant

115 TETIEV WAY LLC

Governing law

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

Assessments & dues

Board of Managers fixes budget at least annually; total annual requirements prorated among Units according to respective common interest. (Bylaws Article VI Section 2)

Reserves & fees

The Board shall establish and maintain a Reserve Fund. (Bylaws Article III Section 5(q))

Leasing & rentals

Leasing of Units is allowed, subject to right of first refusal by Board? Any sale or lease in violation is voidable at election of Board. (Bylaws Article XI Section 1)

Architectural approval

Board must answer within 60 days; failure to respond means no objection. (Declaration Article 17(b): 'The Board of)

Insurance

Board shall obtain fire insurance and water damage insurance covering the Building, and public liability insurance (minimum $1,000,000 single limit until first annual meeting). (Bylaws Article VII Section 1)

Use restrictions

Units shall be used for residential purposes only. (Bylaws Article VIII Section 2)

Voting & meetings

Each Unit Owner appoints a Manager who is entitled to one vote per seat; the three individuals with the highest votes become the Board of Managers. (Bylaws Article II Section 3: 'all Unit O)

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