Washington Square Condominiums

Key facts from Washington Square Condominiums's documents

Reflects the 1983 governing documents — figures and rules are as originally recorded and may have changed since.

Legal name

Washington Square Association, Inc. (Article XII A (page 11))

Governing law

Chapter 47A of the North Carolina General Statutes (North Carolina Unit Ownership Act) (WHEREAS paragraph (page 1) and Article I)

Reserves & fees

Assessments for capital improvements or repairs held by Board for designated purposes; if contingency does not occur, funds used for general operation; excess assessments reduce next year's assessments. (Article XII C(5))

Leasing & rentals

Yes, unit owner may delegate rights to tenants, subject to Declaration, By-laws, and Rules. (Article VI A, Article XVI)

Voting & meetings

One voting member per unit; total votes = 100; each owner entitled to votes equal to percentage of undivided interest in common elements (Exhibit D). Developer may designate voting representative for units it owns. (Article XII C(3) and C(6); By-laws 3(a))

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