CAI-NJ June 2020(w)

Did You Check Your GOVERNING DOCUMENTS? By Nicole Martone, CMCA, AMS, PCAM, Community Director, Associa - Community Management Corp. of New Jersey, AAMC

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O ften times the familiar chorus of “What can I do about this?” can be heard coming from manage- ment offices throughout the land. This chorus is typically followed up with a verse about “I wasn’t told that.” and “How was I supposed to know?” The refrain by property managers is typically “Check the governing doc- uments.” How many times have the governing documents been provided as a requirement for a closing, only to be used as a checkbox for mandatory disclosures and never opened, nonetheless read? The answers to most of the questions posed by the unit owners in these top 40 hits is usually contained in any one of the governing documents. What are the governing documents? “Governing Documents means the legal document(s) by which any person (other than

an individual) establishes its legal existence or which govern its internal affairs.” (source: https://www.lawinsider.com/ dictionary/governing-documents) A responsible new unit owner will obtain the recorded governing documents for their new purchase, inclusive of the Master Deed, By-Laws, Rules and Regulations (CC&Rs), and any amendments made sub- sequent to the initial document. Usually these documents are sent along with a welcome package from the association’s management office. The responsible new owner will review them either with their attorney or realtor prior to the pur- chase. Prior to the closing, there may be questions that a new owner may be interested which would influence their purchase. The answers to frequently asked questions can be found in the governing documents, such as: Can a unit CONT I NU E S ON PAGE 26

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