1513 Swordfish, a Condominium

What 1513 Swordfish, a Condominium's governing documents say

1513 Swordfish is a two-unit condominium in Carolina Beach, NC — you own your unit and share the building's common elements with the other owner. The association handles maintenance of common areas and carries master insurance, funded by assessments split 50/50 between the two units.

• What you own & maintain: You own the interior of your unit (finished surfaces, interior partitions). The association maintains common elements like the roof, foundations, corridors, stairs, parking areas, and beach access walkway. Limited common elements (decks, porches, exterior doors/windows, HVAC components) are allocated to each unit but the association controls exterior maintenance; however, HVAC limited common elements are the unit owner's responsibility.
• Assessments & expenses: Common expenses are split equally: each unit pays 50% of assessments, collected at least quarterly. Unpaid assessments become a lien on the unit after 30 days.
• Use restrictions: Units are for residential use only. No obnoxious or unlawful activity. No signs, flags, or banners visible from outside. No parking except in designated areas. No planting shrubs without association permission. Nothing that increases insurance rates.
• Alterations: You may alter your unit with prior notice to the association, using materials substantially similar to existing construction, and without affecting structural soundness. Structural changes require prior written consent of the executive board.
• Insurance: The association carries property insurance on the building (replacement cost, at least 90% co-insurance) and public liability insurance (minimum $500,000/person, $1,000,000/occurrence). Each owner should get their own insurance for personal property and liability.
• Reconstruction after damage: If the building is damaged, the executive board must arrange prompt repair unless 80% of owners (including 100% of owners of units not to be rebuilt) vote not to rebuild. Owners must maintain their own units and may be charged for repairs if they fail to do so.
• Amendments & termination: Amendments require a vote of 100% of unit owners and consent of their mortgagees. Termination must follow the North Carolina Condominium Act.
• What this document doesn't cover: This declaration does not include rules on leasing (minimum lease terms, rental caps), pets, age restrictions, or specific parking permits. Those may be in the bylaws or rules and regulations.

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.