1615 Snapper Lane Condominium

Key facts from 1615 Snapper Lane Condominium's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (unit owners association, unincorporated) (Art. III(a); recital (b))

Legal name

1615 SNAPPER LANE UNIT OWNERS ASSOCIATION (Art. I(b))

Units / lots

2 (maximum 2, presently existing 2) (Art. II(b), Art. II(c))

Developer / declarant

BRC Kure Beach, LLC (Preamble; also Art. I(j))

Governing law

N.C.G.S. Chapter 47C (North Carolina Condominium Act) (Recital (b); Art. I (incorporates N.C.G.)

Assessments & dues

Regular and Special Assessments are assessed equally per unit; Board determines quarterly or monthly schedule (Art. V(a), (c))

Special assessments

May be charged for capital improvements; must be approved by majority vote of all units; Board may allow installment payments (Art. V(b))

Collections & liens

Unpaid assessments become a lien; may be foreclosed like a mortgage; subordinate to first mortgages; sale extinguishes lien for prior due amounts (Art. V(h), (i))

Reserves & fees

Association shall establish an adequate reserve fund for periodic maintenance, repair, replacement of Common Elements (Art. V(a))

Leasing & rentals

Yes, but lease must be in writing and contain provisions requiring tenant to observe Declaration, Bylaws, Rules; no subdivision or separate rental of portion (Art. IV(e), (f))

Fences

Covered by general architectural control; specific rules not stated (Art. XI(a))

Home business

Permitted only if no physical access/visitation by public and no increased use of Common Elements or services (Art. IV(a))

Maintenance

Roof is part of Common Elements (see boundaries: upper boundary is unfinished lower surfaces of ceiling; roof exterior is Common Element) – association maintains (Art. I(k)(1) (upper boundary); Art. V (A)

Insurance

Association must insure all Common Elements (including Limited Common Elements) for 100% replacement value against fire and extended coverage; also liability insurance $1,000,000 per occurrence (Art. VII(a), (b))

Use restrictions

Yes (Art. IV(a))

Voting & meetings

Allocated equally per unit; one-half per unit (Art. II(g))

Amendments

Except as provided, amendment requires unanimous vote of all units; Declarant may amend until it no longer holds title to either unit; amendment must be recorded (Art. XII(c))

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