Sand Ridge Townhouses III

What Sand Ridge Townhouses III's governing documents say

Sand Ridge Townhouses III is a two-unit condominium community in Wrightsville Beach, NC. You own your unit and an undivided one-half interest in common and limited common areas. The association manages common elements, carries master insurance, and assesses common charges per unit.

• What you own & maintain: You own your unit (interior surfaces, two stories, land beneath) and a one-half undivided interest in common areas. You are responsible for all maintenance and repairs to your unit, including structural. The association maintains common elements, with costs shared as common expenses.
• Leasing & rentals: Units may be rented, but no single rooms may be rented. Leases must comply with association rules. The document does not specify a minimum lease term.
• Use restrictions: Each townhouse must be occupied only by a family, its servants, and guests as a residence. No unit may be divided or subdivided. No use may be a source of annoyance or interfere with peaceful possession. All laws and zoning must be observed.
• Pets: The document does not address pets.
• Assessments & fees: The board determines common charges annually based on a budget, allocated per unit's common interest. Unpaid charges accrue interest at the legal rate and create a lien on the unit, enforceable by foreclosure.
• Governance & voting: The association is managed by a two-member Board of Managers, each an owner or spouse. Each unit has one vote. A quorum requires 100% of votes. Meetings are held annually; special meetings can be called by owners of 50% of common interest.
• Insurance: The association must maintain property insurance at 100% replacement cost for fire, flood, and other hazards, plus public liability insurance, paid as a common expense.
• Amendments: The declaration may be amended by an instrument executed by the owners of both units and recorded.

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.