Carolina Crossings

Key facts from Carolina Crossings's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

residential condominium (WHEREAS: 'create a residential condomini)

Legal name

Carolina Crossings Condominiums

Developer / declarant

Carolina Crossings, LLC (first paragraph)

Governing law

Kentucky Horizontal Property Law, KRS 381.805 to KRS 381.910 (WHEREAS)

Assessments & dues

Each unit owner bears a percentage of common expenses equal to unit's floor area percentage (Exhibit B) (Article III(B); Article V(A))

Special assessments

Board may assess extraordinary amounts for private water system repair; also assessments for reconstruction after casualty (Article III(G); Article IX(E))

Collections & liens

Unpaid common expenses constitute a lien on the unit, prior except first mortgage and tax liens. After 30 days default, Council may sue to foreclose like a mortgage. (Article V(C))

Reserves & fees

Referred to as 'reserve, contingency, or surplus fund' but specific amounts not set; initial budget reference (Article VI(F)(3))

Leasing & rentals

Yes, each unit owner has the right to sell or rent the unit subject to condominium documents (Article X(A))

Architectural approval

Yes, for any alteration affecting common elements or exterior, prior written consent of Board required (Article II(F))

Maintenance

Council responsible for roofs (Article III(F)(1))

Insurance

Building, common elements, improvements insured for maximum insurable replacement value excluding foundation and excavation; public liability insurance; workers' compensation; other as Board determines (Article VIII(B))

Use restrictions

Implied by 'residential condominium project' (WHEREAS)

Voting & meetings

Based on percentage interest in common elements (Exhibit B); >50% interest required for amendments (Article XIII: 'vote of greater than 50% )

Amendments

By Declarant during marketing interval (Article VI(F)); otherwise by >50% interest vote after notice and Board approval, recorded with officer certification (Article XIII)

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