Island Dream Townhomes Xviii
association language present (entity×45, governance×5)
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What Island Dream Townhomes Xviii's governing documents say
Island Dream Townhomes XVIII is a two-unit condominium community in Carolina Beach, NC. You own your unit and a 50% undivided share of the common areas, which the association maintains and insures. The building is a two-story wood-frame structure on pilings, with each unit having its own deck, patio, and parking.
- What you own & maintain: You own the interior of your unit (bounded by unfinished surfaces of walls, ceiling, and floor). The association maintains all common elements (foundations, roof, exterior walls, yard, parking, utility lines serving more than one unit) and limited common areas (decks, stairs, driveways serving only your unit). You must keep your unit in good repair.
- Leasing & rentals: Rental is allowed, but subject to association rules. No time-share sales are permitted.
- Use restrictions: Units are for single-family residential use only. No immoral, offensive, or nuisance activities. No structural changes or exterior alterations (painting, antennas, signs) without board approval. No boats, trailers, or motor homes stored on common areas unless designated by the board.
- Pets: The association may require removal of a pet if it is deemed a nuisance.
- Assessments & fees: Each unit owner pays 50% of common expenses. Annual budget is proposed by the board and approved by members. Assessments are payable monthly unless the board decides otherwise. Delinquent assessments accrue interest and late fees, and create a lien on the unit.
- Insurance: The association carries master property and liability insurance (minimum $300,000 liability) on the building and common areas. Each unit owner is an insured under the master policy for liability arising from common elements. You need your own insurance for personal property and unit improvements.
- Damage & reconstruction: After damage, the association must repair or rebuild promptly unless all unit owners vote not to. Insurance proceeds are used first for repair; any shortfall is a common expense. If not rebuilt, the property may be sold or owned as tenants-in-common.
Key facts from Island Dream Townhomes Xviii's documents
- Community type
- condominium (First paragraph: 'submits said property )
- Legal name
- Island Dream Townhomes XVIII
- Developer / declarant
- DR Associates, LLC
- Governing law
- North Carolina Condominium Act, Chapter 47C (Article I A: 'Act or North Carolina Cond)
- Assessments & dues
- Board establishes proposed annual budget, approved by membership at annual meeting (Article XI B: 'The Board of Directors of)
- Special assessments
- Permitted for capital improvements and for owner default repairs (Article XI C (capital improvement fund);)
- Collections & liens
- Unpaid assessment constitutes a lien; may be foreclosed under NC law (Article XI H, I: 'unpaid assessment shal)
- Reserves & fees
- Capital improvement fund; maintained in separate account (Article XI C: 'designate... a sum to be )
- Pets
- True (with nuisance removal right) (Article VIII E: 'Unit Owners Association)
- Leasing & rentals
- True (subject to Association rules) (Article VIII A: 'shall include the renta)
- Parking & vehicles
- Storage on common areas prohibited except as designated by Board (Article VIII D: 'No boats, trailers, mot)
- Fences
- Requires Board consent to fix fences to common or limited common areas (Article VIII C: 'No unit owner shall fix)
- Architectural approval
- True (Board approval required for structural modifications and exterior changes) (Article VIII C: 'No owner of a unit shal)
- Signs & flags
- Prohibited without Board consent (Article VIII C: 'installing... signs... )
- Maintenance
- Association (roofs are common elements per Article V 1) (Article V 1: 'All foundations, columns..)
- Insurance
- Fire, flood, wind, hail, other hazards, and liability; minimum liability $300,000 (Article XIV A: 'insurance against (1) lo)
- Use restrictions
- True (Article VIII A: 'shall be used only for )
About this HOA
Island Dream Townhomes Xviii is a homeowners association in Wilmington, NC.
HOAproxy has 1 document on file for Island Dream Townhomes Xviii: 1 CC&R. Last updated 2026-06-01.