24 Jeffrey Place Condominium

Key facts from 24 Jeffrey Place Condominium's documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Pursuant to Article 9-B of the Real Prop)

Legal name

24 JEFFREY PLACE CONDOMINIUM

Units / lots

1 (land parcel); each unit has separate tax lot number (Exhibit A describes one lot (Lot 15 in B)

Developer / declarant

10 HOWARD DRIVELL'

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)

Assessments & dues

Board determines amount and collects Common Charges and Special Assessments based on Common Interests (Section 2.4(v) (page 25))

Special assessments

Allowed; Board may levy for common expenses or casualty deficits; must be approved by Board (and possibly by Unit Owners for amounts over $5,000) (Section 6.1 (By-Laws) and Section 5.5(C))

Collections & liens

Board may perfect lien against unit for unpaid Common Charges; lien prevents voting until released; no lien on unit for borrowing without owner consent (Section 4.8(B) (page 35); Section 2.4(vi)

Reserves & fees

Declarant may restrict creation of reserve fund without consent during control period; fund for replacements is part of Common Expenses (Section 2.5(A)(ii) (page 27); definition)

Architectural approval

Yes; prior written consent of Board required for alterations, additions, improvements to exterior or changing layout; also for window replacement that differs from original design (Article 10 (page 5) and Section 5.2 (pag)

Home business

Not explicitly mentioned; restricted by residential use

Maintenance

Not explicitly stated; implied as common element

Insurance

Board determines deductible amounts (Section 5.4(C) (page 41): 'Any insurance)

Use restrictions

Yes; no more than one family may occupy a Unit at one time (Article 9 (page 5): 'Each Unit may be us)

Voting & meetings

Each Unit Owner casts one vote per percentage of interest owned; cumulative voting allowed; Sponsor votes until no longer owns any unit; no voting if lien perfected and unpaid (Section 4.8 (pages 35-36))

Amendments

Declaration: 75% vote of all Unit Owners in number and common interest, or written consent of 75% without meeting; Sponsor may unilaterally amend for floor plans; Board may amend to divide into separate boards; material amendments require c (Article 19 (a)-(c) (pages 10-11))

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