Sands at Carolina Beach Condominium, IV, Phase I

What Sands at Carolina Beach Condominium, IV, Phase I's governing documents say

Sands at Carolina Beach Condominium, IV, Phase I is a 12-unit, three-story condominium building in Carolina Beach, NC. You own your unit and an undivided share of the common elements, which the association maintains and insures. The declaration also reserves the developer's right to add up to 12 more units in a future phase.

• What you own & maintain: You own the interior surfaces (plaster, paint, wallpaper) and interior partitions of your unit. The association owns and maintains the perimeter walls, floors, ceilings, pipes, wires, and other utility lines serving more than one unit, plus all common elements like stairwells, entranceways, parking areas, and the building exterior.
• Leasing & rentals: The declaration does not set a minimum lease term. However, the developer may rent unsold units on any basis. All occupants, including renters, must comply with the declaration, bylaws, and association rules.
• Pets: Pets are allowed as long as they do not constitute a nuisance or unreasonably interfere with other owners' quiet enjoyment. There is no stated limit on number or type.
• Parking & vehicles: Common elements include parking areas. Each unit owner is entitled to at least 1.5 designated parking spaces, subject to association regulations.
• Alterations & modifications: No material alterations, door or color changes, enclosing of balconies, or substantial additions to common elements are allowed unless authorized by the board and ratified by a majority of unit owners. Unit owners may not block or interfere with common elements.
• Insurance & casualty: The association must carry master property insurance (fire, extended coverage, flood, liability, etc.) at 100% replacement value. Proceeds are held by an insurance trustee. If 3/4 or more of units are rendered untenantable, the project will not be rebuilt unless 3/4 of owners agree within 60 days.
• Developer's reserved rights: The developer may add up to 12 additional units on adjacent lots (Phase II) by recording a supplemental declaration before November 1, 1988, without unit owner consent. The developer may also adjust unit owners' common-element shares and voting rights accordingly.
• Amendments: The declaration may be amended by a 67% vote of unit owners and written approval of first-lien mortgage holders holding at least 51% of the votes of units subject to such liens. Changes to a unit's boundaries, common-element share, or voting rights require the unit owner's and lienholder's joinder.

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.