Pelican Harbour Townhouses

What Pelican Harbour Townhouses's governing documents say

Pelican Harbour Townhouses is a two-unit condominium community in Wilmington, NC. You own your individual townhouse unit and an undivided one-half interest in the common areas. The association maintains the common elements and carries master insurance, funded by assessments on each unit.

• What you own & maintain: You own your unit's interior (walls, floors, ceilings) and are responsible for all maintenance and repairs inside your unit, structural or non-structural. The association maintains all common elements, including roofs, foundations, land, and utility infrastructure, as a common expense.
• Leasing & rentals: You may rent your entire unit, but no single rooms may be rented. Leases must be for the entire unit, and you must pay all unpaid assessments before leasing.
• Right of first refusal: If you offer to sell your unit, you must first give the other unit owner a 30-day right of first refusal to purchase at the same price and terms as any bona fide offer.
• Assessments & liens: The board assesses common charges annually (or more often) based on each unit's one-half interest. Unpaid assessments accrue interest at the legal rate, plus collection costs and attorney's fees, and create a lien on your unit that can be foreclosed.
• Use restrictions: Units may be used only as residences for a family. No use that is a source of annoyance or increases insurance rates is permitted. All laws and zoning ordinances must be observed.
• Alterations & improvements: No structural addition, alteration, or improvement may be made to your unit without prior written consent of the board. The board must respond within 30 days; failure to do so constitutes consent.
• Insurance & damage: The association carries master property insurance (fire, flood, etc.) at 100% replacement cost. If the building is more than 3/4 destroyed and all owners agree not to rebuild, the property is owned as tenants in common and may be partitioned.
• Voting & governance: Each unit owner has one vote. A quorum requires both unit owners (100% of votes). The board consists of two members (one per unit) elected for three-year terms. Meetings are held annually in Raleigh, NC.

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.