Breckenridge Property Owners Association, Inc.

Key facts from Breckenridge Property Owners Association, Inc.'s documents

Reflects the 2000 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned community (as defined in N.C.G.S. 47F) (Article I, Section 17)

Legal name

BRECKENRIDGE PROPERTY OWNERS ASSOCIATION, INC.

Developer / declarant

Breckenridge Properties, LLC (Article I, Section 7)

Governing law

North Carolina Planned Community Act (N.C.G.S. 47F) (Article I, Section 2; also referenced in)

Assessments & dues

Determined annually by Executive Board; not a fixed amount in declaration (Article VI, Section 3)

Special assessments

May levy for capital improvements with assent of two-thirds of votes cast at a meeting; notice required 10-60 days prior (Article VI, Sections 4 and 5)

Collections & liens

Unpaid assessments become a lien on the lot when a claim of lien is recorded; may be foreclosed like a mortgage under power of sale; lien subordinate to prior recorded liens and tax liens; enforcement must be instituted within 3 years of do (Article VI, Sections 7 and 8)

Reserves & fees

At least 10% of annual assessment allocated to a capital improvement fund; held in separate account; interest may be used for current operations (Article VI, Section 9)

Pets

Only small household pets kept indoors; small cats and dogs under 20 pounds kept indoors; may be outdoors on leash and under control; owners responsible for waste disposal (Article X, Section 4)

Home business

Commercial purposes prohibited; no explicit exception for home businesses (Article X, Section 1)

Use restrictions

Lots shall be used for residential purposes only; commercial purposes prohibited; only one detached single-family dwelling per lot (Article X, Section 1)

Voting & meetings

Each lot entitled to one vote; Class A (owners) full voting after written notice from Class B, 5 years after recording of declaration for that phase, or 5 years after recording of each additional phase; Class B (Declarant) has three votes p (Article IV, Sections 2 and 3)

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