Section 23. Where the master deed, declaration of trust or bylaws of a condominium submitted under this chapter requires the consent of mortgagees prior to amending said deed, trust or bylaws, consent shall be deemed given if the following conditions are satisfied: (i) written notice of the proposed amendment to the master deed, declaration of trust or bylaws, was provided to each mortgagee who holds a first mortgage on a unit within the condominium; (ii) the governing body of the organization of unit owners provided the notice by first class mail and certified mail, return receipt requested; and (iii) the mortgagee fails to respond or object within 60 days of the date of mailing such notice. In the event of any conflict between this section and the master deed, trust or bylaws or other governing documents of the condominium, this section shall control.

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Terms Used In Massachusetts General Laws ch. 183A sec. 23

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.