Costero Town Homes

What Costero Town Homes's governing documents say

Costero Town Homes is a two-unit townhome community in Kure Beach, NC, governed by a declaration that creates an association of the two unit owners. Each owner owns their unit and a half-interest in the common area, and is responsible for maintaining their unit and limited common areas, with shared costs for the roof, party wall, and common walkway.

• What you own & maintain: You own your unit and a 50% undivided interest in the common area. You must maintain your unit's exterior, walkways, driveway, and limited common areas (e.g., decks, yards). Roof replacement and party wall repairs are split 50/50, unless damage is caused by one owner's negligence.
• Leasing & rentals: Units may be rented for residential purposes, but rentals of less than the whole unit are prohibited. No timeshares allowed.
• Pets: Domestic household pets are allowed subject to association rules. Pets must be leashed outside, waste must be removed, and excessive noise is prohibited. No commercial breeding.
• Architectural review: Any exterior changes (painting, structures, satellite dishes, fences) require unanimous approval of both unit owners. Interior remodeling does not need approval. Repainting the exterior must keep both units the same color.
• Parking & vehicles: No campers, trailers, boats, or junk vehicles. Only standard 2-ton pickup trucks or smaller are allowed. Tools in vehicles must be out of sight. Parking regulations may be set by the association.
• Assessments & fees: No regular assessments; common expenses are split 50/50 as special assessments. Late fees (4% of amount due) and interest (10% per annum) apply to delinquent assessments. The association can place a lien and foreclose.
• Voting & governance: Each unit has one vote. Unanimous consent is required for many decisions; disputes go to binding arbitration. The initial officers are Dolores Coe (President) and Ronald Minson (Secretary/Treasurer) until the last unit sells.

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.