Adalyn Place Homeowners Association Inc

Key facts from Adalyn Place Homeowners Association Inc's documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Legal name

Adalyn Place Homeowners Association, Inc. (Section 2.1 definition of Association)

Developer / declarant

Dan Ryan Builders — North Carolina, LLC (Declarant (BK017399PG02704))

Governing law

North Carolina Planned Community Act (Chapter 47F) (Section 2.1 definition of Act)

Age restriction

Active Adult Community but no age restrictions in Declaration. (Section 1.1)

Special assessments

Up to $300 per Unit per fiscal year without Owner approval; above requires approval by two-thirds of total Association vote and Declarant. (Section 8.4)

Collections & liens

Unpaid assessments, fines, and costs become a lien against the Unit upon filing in Public Records if required by Act. (Sections 5.3, 7.5(a), 8.7)

Reserves & fees

Board may, but has no obligation to, establish a reserve fund. (Section 8.2)

Leasing & rentals

Yes, leasing permitted; Association may require minimum lease term; future amendment may prohibit or limit number of leased Units. (Section 3.4(e))

Architectural approval

Reviewer shall respond within 30 days after receipt of completed application; if no response, approval deemed given (but cannot be inconsistent with Design Guidelines). (Section 4.3(b))

Signs & flags

Content not regulated; time, place, manner (including design criteria) may be regulated as allowed under Act. (Section 3.4(b))

Use restrictions

Units intended for detached single-family residence. (Section 2.1 definition of Unit)

Voting & meetings

Class A: one vote per Unit (owners except Declarant). Class B: Declarant has three votes per Unit owned. Class B terminates after two years after Class B Control Period or earlier at Declarant's discretion. (Section 6.3)

Amendments

Referenced in Article XVI (not included in excerpt). (Section 1.1, 16)

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