Southwood Patio Homes Condominium

What Southwood Patio Homes Condominium's governing documents say

Southwood Patio Homes Condominium is a condominium community in Wilmington, NC. This document is a supplemental declaration adding a new phase (Section III, Phase II) to the existing condominium. It primarily describes the property boundaries, unit floor plans, ownership percentages, and estimated operating expenses for the new units. It does not contain the full set of rules for residents.

• What this document covers: This is a supplemental declaration that adds Section III, Phase II to the Southwood Patio Homes Condominium. It includes legal descriptions of the new land, floor plans for units 34, 36, 38, 41, and 48, a table of each unit's percentage interest in common elements and annual assessment, and an estimated operating expense budget.
• Ownership interests & assessments: Each unit in Section III, Phase II has a defined percentage interest in the common elements (ranging from about 5.03% to 7.19%) and an annual assessment (ranging from $408 to $588). The total annual operating expenses for this phase are estimated at $8,196.
• What this document doesn't cover: This document does not contain the full condominium declaration or bylaws. It does not include rules on leasing, pets, age restrictions, parking, or architectural review. Those rules would be in the original declaration and other governing documents.

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.