Kings Grant Residential Owners Association Inc

Key facts from Kings Grant Residential Owners Association Inc's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Multi-phased planned community (Section 2.1)

Developer / declarant

Tri Pointe Homes Holdings, Inc., a Delaware corporation (Recitals (page 20) and Section 1.16)

Governing law

North Carolina Planned Community Act, Chapter 47F of the North Carolina General Statutes (Section 1.1)

Assessments & dues

Board prepares annual budget; Common Assessments set accordingly per Lot share of Common Expenses (Sections 10.5, 10.6)

Special assessments

Permitted for unbudgeted expenses, capital improvements, or repair/replacement of Common Areas or Association Property (Section 1.4.3)

Collections & liens

Association has lien rights under NC Gen Stat 44A; can file claims of lien and foreclose (Sections 7.5.2, 10.14, 10.16)

Reserves & fees

Referenced ("funding of reserves" in Operating Deficit definition) (Section 1.34)

Pets

Yes, but subject to restrictions on livestock and poultry (Section 11.7)

Leasing & rentals

Yes (Article 15: Leasing and Occupancy of Uni)

Parking & vehicles

Off-street motor vehicles (Section 11.18); parking regulated (Section 11.21); commercial trucks, trailers, campers, boats restricted (Section 11.8) (Sections 11.8, 11.18, 11.21)

Fences

Governed by Section 11.16 (Fences and Walls) (Section 11.16)

Architectural approval

Yes, Architectural Review Board (ARB) approval required for construction or modification of improvements (Section 1.2, Article 13 (Section 13.2))

Signs & flags

Regulated; document declares regulation of political signs and US/NC flags (Title before Table of Contents and Secti)

Maintenance

Association maintains Common Areas, Stormwater Facilities, street lighting, community irrigation; Owner maintains exterior of improvements not delegated (Article 7) (Sections 7.1, 7.8, 7.9, 7.10, 7.11)

Insurance

Association maintains property insurance on Common Areas and improvements; liability insurance (Article 8 (Sections 8.1, 8.2))

Use restrictions

Yes (Section 15.1)

Voting & meetings

Two classes: Class A (Owner of a Lot) gets one vote per Lot; Class B (Declarant) gets ten votes per Lot owned; Class B converts to Class A after Declarant Control Period (Section 4.2.1, 4.2.2)

Amendments

Declarant may amend unilaterally during control period (17.1); Association with owner vote (17.2); Article 2 requires Declarant consent (2.7); mutual consent for certain changes (Sections 17.1, 17.2, 2.7)

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