Founders Landing

Key facts from Founders Landing's documents

Reflects the 2025 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned residential community under North Carolina Planned Community Act (Article I, Section 1.1)

Legal name

Founders Landing Homeowners Association, Inc. (Article II, Section 2.1.7)

Developer / declarant

MTS CLT, LLC, a North Carolina limited liability company (Page 1 (Preamble) and Article II, Sectio)

Governing law

North Carolina Planned Community Act, N.C.G.S. § 47F-1-101, et seq. (Article I, Section 1.1; Article II, Sect)

Age restriction

Community intended for occupancy by persons 55 and older; subject to Housing for Older Persons Act (HOPA) requirements (Article I, Section 1.1; Article VII, Sec)

Special assessments

Levied for capital improvements or extraordinary Common Expenses; requires affirmative vote or written consent of Members entitled to cast at least 51% of votes allocated to Lots subject to assessment; during Declarant Control Period also r (Article VI, Section 6.3)

Collections & liens

Association has lien for unpaid assessments, interest, late charges, costs, and attorney fees; lien superior to all other liens except tax liens and first mortgages recorded before lien; foreclosure may be judicial or nonjudicial (except fi (Article VI, Sections 6.6.1, 6.6.2)

Reserves & fees

Budget shall include a reasonable contribution to reserve fund for repair and replacement (Article VI, Section 6.2.1)

Signs & flags

Permitted not more than 45 days before and 10 days after election; total area not to exceed 6 square feet per candidate or political matter (Article VII, Section 7.4.4)

Insurance

Owner shall carry property insurance for full replacement cost of all insurable improvements on that Owner's Lot (Article IX, Section 9.2)

Use restrictions

Community intended for residential use; activities not normally associated with residential use may be prohibited (Article VII, Section 7.4.6)

Amendments

By Declarant (Article XVII); by Members (Article XVII); also Restrictions may be amended by Board or Members with 51% Class A vote and Declarant consent during control period (Article VII, Section 7.2.1; Article XVII)

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