Magnolia Townes Homeowners Association Inc

Key facts from Magnolia Townes Homeowners Association Inc's documents

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

Governing law

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

Assessments & dues

Board adopts annual budget (including reserves) and sets Common Assessments and Attached Townhome Assessments proportionally. (Sections 11.5, 11.6, 11.8)

Special assessments

Defined; may be levied for unbudgeted expenses, capital improvements, restoration shortfalls, etc. Requires approval per Section 11.7 (Common) and 11.9 (Attached Townhome). (Section 1.4.4)

Collections & liens

Association has lien rights for unpaid Assessments; may collect rents and enforce liens; priority as per Section 11.18. (Sections 11.16, 11.17, 11.18, 11.19)

Reserves & fees

Reasonable reserves for capital improvements, repairs, replacements must be included in budget. (Sections 1.8, 11.5)

Pets

Yes, but subject to restrictions (animals, pets, livestock, and poultry section). (Section 12.7)

Leasing & rentals

Yes, subject to Article 16. Owner responsible for conduct of permitted users. (Sections 16.2, 16.3)

Parking & vehicles

Regulated under Section 12.21 (Parking). (Section 12.21 (Table of Contents))

Fences

Set forth in Section 12.16 (Fences and Walls). (Section 12.16 (Table of Contents))

Architectural approval

Yes, Architectural Review Board approval required for improvements. (Article 14, Section 14.1)

Signs & flags

Regulated; document specifically regulates or prohibits display of political signs and the U.S. or North Carolina flag. (Section 12.6 (Table of Contents) and cov)

Maintenance

Association (as part of Exterior Maintenance): repair and replacement of roof, including shingles, flashing, fascia, soffit, gutters, etc., but excluding roof trusses, joists, structural elements. (Section 1.26.1)

Insurance

Association obtains property and liability insurance on Common Areas and buildings (Attached Townhomes). (Section 8.2)

Use restrictions

Yes (Section 16.1)

Voting & meetings

Class A Members (Owners of Lots except Declarant) – 1 vote per Lot; Class B Member (Declarant) – 10 votes per Lot owned. During Declarant Control Period, Declarant deemed to have at least 80% voting interest for specified purposes. (Sections 4.2, 4.2.1, 4.2.2, 4.2.3)

Amendments

Article 18: Declarant may amend for scrivener's errors (18.1); Association may amend by vote (18.2); limitations on amendments affecting Declarant rights (18.4); amendments required by secondary mortgage market (18.5); mortgagee's consent ( (Article 18)

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