Holly Lane Condominium

Key facts from Holly Lane Condominium's documents

Reflects the 2026 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condo (Association: Holly Lane Condominium Homeowners Association, Inc.) (Article I, Section 1.2; throughout)

Governing law

Chapter 47C of the North Carolina General Statutes (the North Carolina Condominium Act) (Article I, Section 1.1; Article II, Sect)

Assessments & dues

Board establishes annual budget; Owners may reject by 2/3 vote at meeting; if rejected, previous budget continues (Section 7.6)

Special assessments

Permitted for capital improvements; approved by Board; payable in proportion to common element interest (Section 7.3)

Collections & liens

Association has lien on each Unit for unpaid assessments, penalties, interest, costs, attorney fees; foreclosable as a deed of trust under NC law (Article 2A of Chapter 45); lien subordinate to recorded mortgages and tax liens (Sections 7.14, 7.17)

Reserves & fees

Board may designate portion of annual assessment for reserve fund for capital improvements and replacements; held in separate account; interest may be used for current operation (Section 7.8)

Pets

Yes, limited to one domestic dog (Canis lupus familiaris) not exceeding 60 pounds, OR two domestic cats (Felis catus) per Unit. No other animals. No commercial purposes. (Section 6.9)

Leasing & rentals

Yes, but with restrictions (Section 6.7)

Parking & vehicles

Not explicitly stated; but likely prohibited by nuisance clauses

Architectural approval

Yes for alterations affecting exterior, structural changes, landscaping in Common Elements, etc. (Sections 6.14, 10.2, 5.5 (windows/doors )

Home business

Allowed only with Board approval; cannot have business customers visiting; must not disturb; leasing not considered business (Section 6.1)

Signs & flags

US and NC flags allowed: Association may erect flagpoles on Common Elements; Owners may display US flag in areas of exclusive possession/use subject to federal law and Board restrictions; other flags prohibited unless approved (only US flag (Section 6.11(a)(ii)-(iii))

Setbacks / home size

4 stories (Article III)

Maintenance

Association (part of Common Elements) (Section 5.1(c))

Insurance

Reasonable deductible as Board determines; if damage caused by Owner/resident, that Owner pays deductible up to cost of repair. (Sections 9.1, 9.4)

Use restrictions

Yes, except Board may allow home business with written approval if primary use is residential, no customers visit, no disturbance, and not violating other provisions (Section 6.1)

Voting & meetings

One (1) vote per Unit, not based on common element interest (Article I, Section 1.7)

Amendments

Declaration: amended by 75% of votes in Association, except changes to allocated interests, number of units, boundaries, or use restrictions require unanimous written approval. Must be recorded. Bylaws: can be amended by vote of Unit Owners (Article XII; WHEREAS clauses (page 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.