Silverstone Owners Association Inc

Key facts from Silverstone Owners Association Inc's documents

Reflects the 2024 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned Community (Section 1.1 (References to North Carolin)

Governing law

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

Assessments & dues

Board adopts annual budget and sets assessments based on budget. (Section 11.5, 11.6)

Special assessments

Allowed for unbudgeted expenses, capital improvements, casualty restoration, and certain other purposes. (Section 1.4.5)

Collections & liens

Association may file claim of lien and enforce through foreclosure, and collect rents directly. (Sections 11.18, 11.19, 11.20)

Reserves & fees

Attached Townhome Expenses include reserves for capital improvements, repairs, replacements (Section 1.8). Not otherwise detailed. (Section 1.8)

Pets

Yes (pets allowed, but livestock and poultry prohibited). (Section 12.7)

Leasing & rentals

Yes, subject to Section 16.2 (Leased Units). (Section 16.2)

Parking & vehicles

Subject to restrictions in Section 12.8 (Commercial Trucks, Trailers, Campers, Boats, and Storage Units). (Section 12.8)

Fences

Regulated by Section 12.16 (Fences and Walls). (Section 12.16)

Architectural approval

Yes, Architectural Review Board (ARB) approval required for construction and improvements. (Article 14)

Home business

Not explicitly mentioned; however, residential use only likely restricts business operations. (Section 16.1)

Signs & flags

Regulated; document specifically states it regulates or prohibits political signs and US/NC flags. (Cover page and Section 12.6)

Use restrictions

Yes, residential use only for Units. (Section 16.1)

Voting & meetings

Class A Members (Owners) have 1 vote per Lot. Class B Member (Declarant) has 10 votes per Lot owned during Declarant Control Period. (Section 4.2.1, 4.2.2)

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