25 27 Polnoya Homes Condominium

Key facts from 25 27 Polnoya Homes Condominium's documents

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

Community type

Condominium (Page 1 title: "DECLARATION OF CONDOMINIU)

Legal name

25-27 Polnoya Homes Condominium

Developer / declarant

POLNOYA HOMES LLC (Page 1: "DECLARANT: POLNOYA HOMES LLC")

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 1: "PURSUANT TO ARTICLE 9-B OF THE )

Assessments & dues

Condominium Board determines Common Expenses, adopts budget, and assesses Common Charges and Special Assessments (By-laws Sections 2.4(iv)(v) and 6.1 (Pag)

Special assessments

Condominium Board may levy Special Assessments to meet Common Expenses, subject to limitations in Section 2.5 (By-laws Section 6.1(C) (Page G-26))

Collections & liens

Condominium Board may perfect a lien against a Unit for unpaid Common Charges; Board may also borrow and no lien on Unit without owner's consent, but lien for common charges is implied (By-laws Section 4.8(B) (Page G-13) and S)

Reserves & fees

Condominium Board may establish a reserve fund for capital expenditures; during declarant control, cannot establish reserves other than a 12-month contingency reserve not exceeding 10% of budgeted operating expenses (By-laws Sections 2.4(xii) and 2.5(B)(iv))

Home business

Any Unit may be partially used as a professional office by the owner of such Unit only (By-laws Section 5.7(A) (Page G-20))

Use restrictions

Each Unit may be used in accordance with use permitted by local law and Certificate of Occupancy; not more than one family may occupy a Unit at any one time (Declaration Section 9 (Page F-3) and By-)

Voting & meetings

Each Unit Owner entitled to one vote per percentage of Common Interest owned; cumulative voting allowed (By-laws Section 4.8(A) and 4.9(A) (Pages)

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