The Oaks of Avent Ferry Condominium

Key facts from The Oaks of Avent Ferry Condominium's documents

Reflects the 1980 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Entire document)

Governing law

Chapter 47A of the North Carolina General Statutes (Unit Ownership Act) (Preamble, Paragraph 1)

Assessments & dues

Not set; determined by Board for common expenses (Para 3(G) (Common Expenses include sums )

Special assessments

Allowed (reconstruction/repair; common expenses); Board may levy special assessments (Para 17(D)(ii) (special assessments for )

Collections & liens

Unpaid assessments constitute a lien on the unit prior to all other liens except tax liens, first mortgage, and statutory priority; may be foreclosed by suit in like manner as mortgage; receiver may be appointed; money judgment also maintai (Para 11)

Leasing & rentals

Yes, with restrictions: minimum 30-day rental; not for transient/hotel purposes; no provision of customary hotel services; lease subject to declaration and bylaws (Para 13)

Setbacks / home size

Units have defined sizes: ~1000, ~1100, ~1368 sq ft (Para 5(A)(B)(C))

Maintenance

Roofs are Common Elements (Para 8(A)(ii)); thus Association responsibility (Para 8(A)(ii))

Insurance

Not to exceed $1,000 as determined by Board (Para 17(A)(i)(b))

Use restrictions

Yes; dwelling units shall be occupied and used only as private dwelling for owner, family, tenants, and social guests (Para 10(A))

Voting & meetings

Based on percentage of undivided interest in Common Elements (Schedule E); each unit has same incidents as real property (Para 8(C), Para 16)

Amendments

By filing instrument signed by Unit Owners having not less than 75% interest in Common Elements; for additions within 5 years, Grantor acts as Attorney-in-Fact for all Unit Owners and mortgagees; unanimous consent required where Unit Owners (Para 21)

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