The Courtyard Condominiums

What The Courtyard Condominiums's governing documents say

This is an amendment to the condominium declaration for The Courtyard Condominiums in Wilmington, NC, a multi-phase condominium community. It primarily adds Phase II (18 units in Building 4240) and amends certain governance provisions. The document is an ancillary amendment, not a complete rulebook.

• What this document covers: This amendment adds Phase II to the condominium, consisting of 18 units in Building 4240, and incorporates most sections of the original Phase I declaration by reference. It also amends provisions related to assessment liens, developer control of the board, and board composition.
• Developer rights & transition: The developer (Declarant) retains the right to add up to 4 phases (max 84 total units) and to designate a majority of the board until the earlier of: 120 days after 75% of units are sold to non-developer owners, 2 years after units cease to be offered for sale, or 2 years after the last development right is exercised.
• Unit ownership & common areas: Each unit owner owns their unit in fee simple and an undivided interest in common property (based on fair market value). Limited common areas include decks and outside storage closets appurtenant to each unit. The association maintains common elements and carries master insurance.
• Parking: The property has sufficient parking for at least one automobile per unit, and each unit owner has the right to use at least one space.
• What this document doesn't cover: This amendment does not contain rules on leasing, pets, age restrictions, or specific use restrictions. Those would be in the original declaration and association bylaws, which are incorporated by reference but not fully reproduced here.

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.