Sand Ridge Townhouses IV

What Sand Ridge Townhouses IV's governing documents say

Sand Ridge Townhouses IV is a two-unit condominium community in Wrightsville Beach, NC, where you own your unit and share ownership of common elements. The rules apply to owners, tenants, and occupants, and are governed by the Declaration and By-laws.

• What you own & maintain: You own your unit (interior surfaces, two stories) and an undivided one-half interest in general common areas. You are responsible for all maintenance and repairs inside your unit, including structural items. The Association maintains common elements.
• Leasing & rentals: Units may be rented, but no single rooms may be rented. Leases must comply with all rules; the minimum lease term is not specified in this document.
• Occupancy & use: Each unit must be occupied only by a family, its servants, and guests as a private residence. No unit may be divided or subdivided.
• Pets: This document does not address pets.
• Assessments & fees: The Board of Managers sets annual common charges based on a budget. Each unit owner pays an equal share (one-half). Unpaid charges accrue interest and may become a lien on the unit.
• Governance & voting: The Association is managed by a two-person Board of Managers (one per unit). Each unit owner has one vote. A quorum requires both owners (100% of votes).
• Insurance: The Association must carry property insurance on the building (replacement cost) and liability insurance. Unit owners are responsible for insuring their own contents and improvements.
• Amendments: The Declaration may be amended only by a written instrument signed by both unit owners 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.