19 Collins Ave Condominium

Key facts from 19 Collins Ave Condominium's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

19 COLLINS AVE CONDOMINIUM

Developer / declarant

28 Collins LLC, with an address at 6 Ruzhin Road, Unit 101, Monroe, New York 10950 (Declaration, introductory paragraph afte)

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration, introductory paragraph)

Assessments & dues

Board adopts budget including Common Expenses and determines Common Charges and Special Assessments based on Common Interests (By-laws Section 2.5(iv) and (v))

Special assessments

Board may levy Special Assessments; for capital improvements exceeding $5,000 in aggregate in calendar year, must be approved by all Unit Owners and Mortgage Representatives (if any) (By-laws Sections 2.5(v) and 5.3)

Reserves & fees

Board shall include reserve fund for future capital replacements or repairs in budget (By-laws Section 2.5(iv))

Leasing & rentals

Leasing is allowed but subject to Board's Right of First Refusal and other restrictions (By-laws Article 7 (Right of First Refusa)

Architectural approval

Board approval required for alterations, additions, or improvements to any part of the property allocated to a Unit; also for changes in layout (Declaration Section 10; By-laws Section )

Insurance

Board may determine deductible amounts; policies reviewed at least annually (By-laws Section 5.4(C) and (D))

Use restrictions

Each Unit is to be used as a private dwelling, occupied only by the owner or his permitted tenants (Declaration Section 9)

Voting & meetings

Each Unit Owner votes according to Common Interest (percentage); cumulative voting in Board elections; Sponsor or designee votes for Unsold Units; one vote per percentage of interest owned (By-laws Section 4.8 and 4.9)

Amendments

By vote of at least 67% in number and percentage of Common Interest of all Unit Owners, in person or by proxy at a meeting, or by written approval of 67% in number and Common Interest; material amendments require consent of eligible mortgag (Declaration Section 19(a) and (c))

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