Townhomes at 1105 Snapper Lane

What Townhomes at 1105 Snapper Lane's governing documents say

Townhomes at 1105 Snapper Lane is a planned community of two townhome lots in Wilmington, NC. Each owner holds fee simple title to their lot and townhome unit, which shares party walls with the adjoining unit. The association maintains common elements and provides scheduled exterior maintenance and master insurance, funded by assessments on all lots.

• What you own & maintain: You own your lot and townhome unit. The association handles scheduled exterior maintenance (repainting, roof replacement, gutters) but not windows, exterior doors, glass, decks, or HVAC. You are responsible for interior upkeep, exterior doors, windows, porches, patios, screens, HVAC, and snow/debris removal from your doorstep.
• Assessments & fees: Annual assessments are set by the board and cover common expenses, exterior maintenance, and insurance. A working capital assessment equal to two months' assessments is due at closing. Special assessments for capital improvements require a majority vote. Delinquent assessments accrue 18% annual interest and become a lien on the property.
• Leasing & rentals: The document does not restrict leasing terms or require approval. However, all lots must be used for residential purposes only.
• Architectural review: No building, fence, wall, or exterior alteration may be made without written approval from the board or an architectural committee. Plans must be submitted; if no decision is made within 30 days, approval is deemed given.
• Insurance: The association carries property insurance on all townhome buildings at 100% replacement cost. Each owner must maintain liability insurance of at least $100,000 per occurrence and may insure personal property and improvements. Insurance deductibles for unit damage are paid by the affected owner(s).
• Use restrictions: Lots are for residential single-family townhome use only. No lot may be subdivided. The declarant may use lots for sales/rental offices until all lots are sold.
• What this document doesn't cover: This declaration does not specify pet limits, parking rules, age restrictions, or rental caps. Those may be addressed in future rules adopted by the association.

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.