Shipyard Commons Condominium

What Shipyard Commons Condominium's governing documents say

Shipyard Commons Condominium is a 5-unit condominium in Wilmington, NC. You own your unit and a share of the common elements, which the association maintains and insures. This declaration governs unit ownership, use restrictions, assessments, and association powers.

• What you own & maintain: You own the interior surfaces of your unit (walls, floors, ceilings) and a percentage interest in common elements like the land, building structure, and elevator. The association maintains common elements and limited common elements (e.g., windows, HVAC serving your unit).
• Leasing & rentals: Leases require association approval (Section 6.3). No minimum lease term is stated in this excerpt, but the association can regulate rentals.
• Pets: The declaration mentions 'Animals' in Section 7.8 but the text is not provided. Specific pet rules would be in the full document or rules and regulations.
• Assessments & fees: The association levies common assessments (for operating expenses), special assessments (for unplanned costs), and individual unit assessments. Assessments are based on each unit's allocated interest (percentage of common elements).
• Alterations & architectural control: Unit alterations require association approval (Section 10.2). The association can adopt architectural guidelines.
• Parking & vehicles: The association can assign parking spaces and restrict or prohibit recreational/commercial vehicles in common elements (Section 4.5).
• What this document doesn't cover: This excerpt does not include the full rules and regulations, specific pet limits, lease term minimums, or detailed architectural standards. Those would be in the bylaws or separately adopted rules.

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.