Twin Oaks Condominiums

What Twin Oaks Condominiums's governing documents say

Twin Oaks Condominiums is a 6-unit condominium community in Wilmington, NC — you own your individual unit and an undivided share of the common property, with the Inlet Homeowners Association managing the common areas and enforcing rules. This declaration establishes the condominium regime and governs unit owner rights and obligations.

• What you own & maintain: You own the interior of your unit (excluding subflooring, interior wall surfaces, and ceiling surfaces) and are responsible for maintenance and repair of all interior surfaces, heating/air conditioning equipment, appliances, doors, window frames, panes, and screens. The Association maintains all common property, including structural elements and utility conduits.
• Leasing & rentals: Units may be leased only as entire units, not for transient, hotel, or commercial purposes. Leases must be in writing and subject to the declaration; lessee noncompliance is a lease default. No minimum lease term is stated.
• Alterations & exterior changes: No structural modifications or alterations to your unit without the Association's written consent. No exterior changes (painting, antennas, fences, planting) without prior written approval.
• Assessments & fees: The Association levies uniform assessments based on each unit's undivided interest in common property. Assessments are payable monthly (or as determined by the Board). The Board adopts an annual budget; increases exceeding the Consumer Price Index change require majority owner approval. Delinquent assessments bear 6% annual interest and the Association has a lien on the unit enforceable by foreclosure.
• Insurance: The Association carries casualty insurance on buildings and improvements (replacement value, at least 80% co-insurance), public liability/property damage insurance, and fidelity coverage. Each unit owner must maintain personal liability insurance of at least $100,000 per occurrence.
• Use restrictions: Units are for residential use only. No immoral, offensive, or unlawful use; no nuisances or activities that increase insurance rates or disturb other owners.
• Parking: The property has parking for at least one automobile per unit, and each owner has the right to use at least one space. The Association may assign parking spaces and regulate their use.
• Pets: The document does not address pet restrictions.

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.