Wrightsville Cottages Condominium

What Wrightsville Cottages Condominium's governing documents say

Wrightsville Cottages Condominium is a two-unit condominium in Wilmington, NC. You own your individual unit (a 4-bedroom, 3-bathroom townhome-style unit with garage) and share ownership of the building's common elements. The association maintains the common areas and carries master insurance, funded by assessments based on a 50% undivided interest per unit.

• What you own & maintain: You own the interior of your unit (bounded by unfinished surfaces of perimeter walls, ceiling, and floor joists). The association maintains common elements (foundations, exterior walls, roof, common utility lines, yard, parking, drive areas) and limited common areas (decks, outside stairs, driveways, garages serving only your unit). You must keep your unit in good repair and comply with insurance requirements.
• Leasing & rentals: Rental of units is permitted, subject to association rules. No time-share sales are allowed. The document does not specify a minimum lease term.
• Pets: The association may require removal of any pet that becomes a nuisance. No other pet restrictions are stated.
• Architectural review: No structural modifications or exterior alterations (including painting, antennas, signs, fences, landscaping) may be made without prior written consent of the Board of Directors.
• Parking & vehicles: Boats, trailers, motor homes, and similar vehicles may not be stored on the property except in designated areas.
• Assessments & fees: Assessments are apportioned equally (50% per unit) and are payable quarterly unless the Board decides otherwise. Delinquent assessments accrue interest at the maximum legal rate, plus late fees and collection costs, and create a lien on the unit.
• Insurance: The association carries master property and liability insurance (minimum $300,000 liability per occurrence) on the building and common areas. Each unit owner is an insured under the liability policy. Premiums are a common expense.
• What this document doesn't cover: This excerpt does not include the full bylaws, rules and regulations, or any specific fee amounts, age restrictions, or income/affordability requirements. It is a declaration of condominium establishing the legal framework.

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.