Island Dream Townhomes Xvii
association language present (entity×45, governance×5)
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What Island Dream Townhomes Xvii's governing documents say
Island Dream Townhomes XVII is a small condominium community in Carolina Beach, NC, consisting of a single two-unit building. Each unit owner owns their individual unit and a 50% undivided interest in the common areas, and the association maintains the shared elements and carries master insurance funded by per-unit assessments.
- What you own & maintain: You own your unit's interior (bounded by interior unfinished surfaces of perimeter walls, ceiling joists, and floor joists) and must keep it in good repair at your own expense. The association maintains and insures the common and limited common areas, including foundations, roofs, exterior walls, stairways, yards, parking, and utility infrastructure.
- Leasing & rentals: Rental of units is permitted, subject to rules established by the association. No minimum lease term is stated in this declaration.
- Pets: The association may require removal of any pet that is determined to be a nuisance. No other pet restrictions are specified in this declaration.
- Architectural review: No structural modifications or exterior alterations (including painting, antennas, signs, or changes to landscaping) may be made without prior written consent of the Board of Directors.
- Parking & vehicles: Boats, trailers, motor homes, and similar vehicles may not be stored on common or limited common areas except in areas designated by the Board.
- Assessments & fees: Each unit owner pays a 50% share of common expenses, set annually by the Board and approved by members. Assessments are due in monthly installments; unpaid assessments bear interest and late fees, and create a lien on the unit enforceable by foreclosure.
- Insurance: The association carries master property and liability insurance (minimum $300,000 liability per occurrence) on the building and common areas. Premiums are a common expense. Unit owners are insured persons under the master policy for liability arising from common element interest or membership.
Key facts from Island Dream Townhomes Xvii's documents
- Community type
- condominium (Preamble: submits said property to condo)
- Developer / declarant
- DR ASSOCIATES, LLC
- Governing law
- Chapter 47C of the General Statutes of North Carolina, as amended, known as the 'North Carolina Condominium Act' (Preamble and Art. I.A)
- Assessments & dues
- Board of Directors establishes proposed annual budget, delivered to members at least 10 days before annual meeting, then submitted for membership approval (Art. XI.B)
- Special assessments
- Association may levy special assessment for cost of repair when owner fails to maintain unit and endanger common elements; collected as special assessment (Art. IX.B)
- Collections & liens
- Unpaid assessment constitutes a lien on the unit; enforceable as provided by N.C. Gen. Stat. 47A-22; Association may foreclose, bid at sale, and recover reasonable attorney's fees (Art. XI.H, XI.I)
- Reserves & fees
- Capital improvements and replacement fund (capital improvement fund) maintained in a separate account, used only for capital improvements; interest may be used for operations (Art. XI.C)
- Pets
- Yes, but Association may require unit owner to remove any pet if determined to be a nuisance (Art. VIII.E)
- Leasing & rentals
- Yes, rental of units permitted pursuant to rules and regulations established by the Association (Art. VIII.A)
- Architectural approval
- Written consent of Board required for structural modification/alteration to unit, changes to exterior (including painting, antennas/dishes, signs), and fixing any object to or changing appearance of common/limited common areas (Art. VIII.C)
- Maintenance
- Association maintains; roofs are common elements under Art. V.1 (Art. V.1 (roofs included in common areas)
- Insurance
- Deductibles are a common expense (Art. XIV.C: any deductibles payable by t)
- Use restrictions
- Buildings and each unit shall be used only for single family residential purposes, including rental pursuant to Association rules and other reasonably incidental uses (Art. VIII.A)
- Voting & meetings
- Unit owners vote on budget at annual meeting; unanimous consent required for change of uses (Art. XI.B (budget approval); Art. VIII.A)
About this HOA
Island Dream Townhomes Xvii is a homeowners association in Wilmington, NC.
HOAproxy has 1 document on file for Island Dream Townhomes Xvii: 1 CC&R. Last updated 2026-06-01.