16 Neil Road Condominium

Key facts from 16 Neil Road Condominium's documents

Reflects the 2009 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (DECLARATION OF CONDOMINIUM ESTABLISHING )

Legal name

16 NEIL ROAD CONDOMINIUM

Developer / declarant

16 Neil Road LLC (DECLARANT: 16 NEIL ROAD LLC)

Governing law

Article 9-B of the Real Property Law of the State of New York (PURSUANT TO ARTICLE 9-B OF THE REAL PROP)

Special assessments

Board may levy Special Assessments pro rata in accordance with Common Interest. (Definition (33); Section 6.1(C) of By-La)

Collections & liens

Board may enforce liens; if Board has perfected a lien, owner's vote is disqualified. (Section 4.8(B); Section 2.4(A)(xviii) en)

Reserves & fees

Reserves may be established; during sponsor control cannot establish reserves exceeding 5% of budgeted operating expenses without sponsor consent; after sponsor control, 75% unit owner approval needed for reserves exceeding 5%. (Sections 2.5 and 2.5(B))

Voting & meetings

Voting based on Common Interest; owner of unit in common interest has vote; if multiple owners, they designate one voter; proxies allowed. (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.