Ivory Beach Condo

Key facts from Ivory Beach Condo's documents

Reflects the 1987 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Ivory Beach Condominium Association, Inc.

Governing law

N.J.S.A. 46:8B-1 et seq. (New Jersey Condominium Act) (Master Deed, Definitions, Article 25-I)

Assessments & dues

Board fixes annual budget and charges; common expenses assessed proportionally based on percentage interest (Master Deed Article 9-A(1) and Article 6)

Special assessments

Included within definition of common expenses; not separately limited (Master Deed Article 25-F, subsection 'sp)

Reserves & fees

Lease: non-refundable fee of $100 per lease; Sale: non-refundable capital improvement contribution of $500 paid by Buyer (Amendment Section B, paragraph 4 (lease )

Leasing & rentals

Unit owners have absolute right to lease units, subject to Master Deed, By-Laws, Rules and Regulations (Master Deed Article 14)

Parking & vehicles

Vehicle unable to operate on own power must not remain in common areas more than 24 hours (Amendment Section A, paragraph 9)

Architectural approval

Exterior painting, decoration, modification requires prior written consent; awnings, window guards, shutters, ventilators, fans, air conditioning devices require approval; signs require approval; lock alterations require prior consent (Amendment Section D, paragraphs 3, 8, 11)

Maintenance

Association responsible for maintenance of common elements (including roof, structural parts); Unit owners responsible for interior of their Units and damage they cause (Master Deed Article 4 (common elements),)

Voting & meetings

Proportional to percentage interest in common elements; each Unit owner entitled to vote (Master Deed Article 6-C; By-Laws Article)

Amendments

Developer may amend for 2 years from date of Master Deed without consent of Unit owners, but not to change permitted use or reduce common elements; thereafter all Unit owners must acquiesce; amendment recorded in county clerk's office (Master Deed Article 19)

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