1617 Snapper Lane Condominium

Key facts from 1617 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 (Article II(a): 'The name of the condomin)

Legal name

1617 SNAPPER LANE CONDOMINIUM

Developer / declarant

BRC Kure Beach, LLC (Opening line: 'by BRC Kure Beach, LLC, h)

Governing law

N.C.G.S. Chapter 47C (Preamble: 'pursuant to N.C.G.S. Chapter )

Assessments & dues

Regular Assessments are set by the Board on a quarterly or monthly basis; Special Assessments require approval by majority of all units (Article V(a): 'The Association shall cha)

Special assessments

Yes, for capital improvements, must be approved by majority of all units (Article V(b): 'Special Assessment... for)

Collections & liens

Yes, assessments become a lien on the unit; may be foreclosed like a mortgage under power of sale; subordinate to first mortgages (Article V(h): 'shall be a lien upon each)

Reserves & fees

Association shall establish an adequate reserve fund for periodic maintenance, repair, and replacement of Common Elements (Article V(a): 'The Association shall est)

Leasing & rentals

Yes, but every lease must be in writing and must obligate tenant to observe all applicable terms of Declaration, Bylaws, and Rules and Regulations (Article IV(f): 'Every lease relating to )

Architectural approval

Yes, written approval from the Board required for any building, fence, wall, or other structure or improvement, or any exterior addition or change (Article XI(a): 'No building, fence, wall)

Home business

Home occupations allowed if no public physical access to the unit and no increased use of Common Elements or general services (Article IV(a): 'except home occupations )

Signs & flags

Only 'For Sale' signs allowed on or from any unit (Article IV(g): 'No sign shall be exhibit)

Insurance

Property insurance on all Common Elements (including Limited Common Elements) at 100% insurable replacement value, covering fire and extended hazards; liability insurance with limits of at least $1,000,000 per occurrence (Article VII(a): 'All Common Elements... )

Use restrictions

Yes, each unit shall be used for residential purposes only (Article IV(a): 'Each unit shall be used )

Voting & meetings

Each unit has an equal vote; allocated equally on a per unit basis (1/2 per unit) (Article II(g): 'The undivided interests )

Amendments

Unanimous vote of all units, or by Declarant until it no longer holds title to either unit; amendment must be recorded in New Hanover County Registry (Article XII(c): 'this Declaration may be)

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