Aspen Condominium

Key facts from Aspen Condominium's documents

Reflects the 2024 governing documents — figures and rules are as originally recorded and may have changed since.

Legal name

Aspen Condominium (Title and Section 2.D)

Governing law

Utah Condominium Ownership Act (Utah Code §§ 57-8-1 et seq.) (Section 2.A: "Act means the Utah Condomi)

Age restriction

Housing for older persons (55+); occupancy by Qualified Residents (55+); Age Exception for surviving spouse/sibling/descendant 45+; Child Exception for legal guardian of minor under 18 due to death/incapacity/deployment/abandonment; 80% Rul (Section 3.5)

Assessments & dues

Budget adopted by Board (Section 10.1) includes dues income, reinvestment fee income, miscellaneous income; Regular Assessment = total Common Expenses + Reserve component + Insurance Fund amount, divided equally among Units (Section 10)

Special assessments

Levy for Common Expenses not covered by Regular Assessment or to replenish Insurance Fund, including emergencies; uniformly levied (Section 2.WW and Section 9.2)

Collections & liens

Association has lien on Unit for unpaid assessments; may foreclose (Section 9.10.6-7) (Section 9.10.6-7)

Reserves & fees

Money set aside for repair/replacement of Common Area items with useful life 3-30 years; funding per Reserve Study (Section 11); maintained in separate account (Section 2.RR, Section 10.6, Section 11)

Home business

Business use prohibited (Section 7.4) except working from home (telecommuting) is allowed and cannot be restricted (Section 3.8.11) (Section 7.4, Section 3.8.11)

Use restrictions

Units are for residential use only as housing for older persons (55+), subject to age limitations (Section 3.5)

Voting & meetings

Class A Members (voting) – each Owner entitled to one vote per Unit; Class B Members (nonvoting) – Owners who own at least 10% of Units or related parties; fractional voting prohibited (Section 4)

Amendments

Amendment requires approval of 67% of Owners (Section 16.8 and Recital I; overrides original declaration's 75% requirement per Utah Code § 57-8-39) (Section 16.8, Recital I)

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