1119 Swordfish Lane, a Condominium

What 1119 Swordfish Lane, a Condominium's governing documents say

1119 Swordfish Lane is a two-unit condominium in Carolina Beach, NC. This declaration and bylaws define the rights and obligations of the two unit owners, who each own a three-story unit and share a one-half undivided interest in the common elements. The rules cover use restrictions, assessments, party wall maintenance, architectural control, and the governance of the homeowners association.

• What you own & maintain: You own your individual unit (approx. 1,274 sq. ft., three stories) and an undivided one-half interest in the common elements. The association maintains the common elements; you maintain your unit's interior. Party walls are common elements, but repair costs are shared proportionally by the owners who use them.
• Use restrictions: Units may only be used as a residence by a family, its servants, and guests. No unit may be subdivided, and no single rooms may be rented. Activities that annoy residents or create fire hazards are prohibited.
• Leasing & rentals: The declaration does not specify a minimum lease term, but no single rooms may be rented. Leases are subject to the association's rules and regulations.
• Pets: The declaration does not address pets; the association may adopt rules and regulations regarding pets.
• Architectural review: No exterior changes, additions, or new structures may be made without written approval from the Board. Changing the exterior color scheme requires unanimous approval of both unit owners.
• Assessments & liens: The Board determines common expenses and assesses each unit owner. Unpaid assessments create a lien against the unit, subordinate to first mortgages recorded before the lien.
• Governance: The association is governed by a two-person Board of Managers (one from each unit). Each unit owner has one vote. The Board handles maintenance, insurance, rulemaking, and finances.
• Party walls: The wall between units is a party wall and part of the common elements. Repair costs are shared in proportion to use. Disputes are settled by arbitration.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.