12 Elener Lane Condominium

Key facts from 12 Elener Lane Condominium's documents

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

Community type

condominium (Title: 12 ELENER LANE CONDOMINIUM)

Legal name

12 ELENER LANE CONDOMINIUM

Developer / declarant

12 ELENER LANE CONSTRUCTION EXPEDITING INC MG

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration opening paragraph and Declar)

Assessments & dues

Condominium Board determines Common Charges based on annual budget prepared and assessed pro-rata according to Common Interests. (By-Laws §2.4(A)(iv) and (v); Definition )

Special assessments

Allowed; can be levied for deficiency in trust funds after casualty, or by Board decision. (By-Laws §5.5(C); Definition (32) Special)

Collections & liens

Board may file a lien against a Unit for unpaid Common Charges or Special Assessments. Such Unit Owner loses voting rights until lien satisfied. (By-Laws §4.8(B); implied power in §2.4)

Reserves & fees

A reserve for contingencies may be established, but for the first two years or while Sponsor has control, cannot exceed 10% of budgeted operating expenses for the ensuing twelve months unless needed for law, insurance notice, or health/safe (By-Laws §2.5(D))

Use restrictions

Units may be occupied only by owner, family members, or guests with Board permission; no transient occupants allowed. (By-Laws §5.7(B))

Voting & meetings

Each Unit Owner casts one vote per Unit owned. Sponsor has same voting rights while owning Unsold Units. In Board elections, each Unit Owner elects one Board Member. (By-Laws §4.8(A) and §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.