604 Tennessee Avenue Condominiums

Key facts from 604 Tennessee Avenue Condominiums's documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

604 Tennessee Avenue Condominiums

Developer / declarant

SRP 2011-3, LLC (Opening paragraph)

Governing law

North Carolina Condominium Act, Chapter 47C of the North Carolina General Statutes (Article I.A)

Assessments & dues

Assessments by Board of Managers (Article VIII: 'Assessments against unit )

Special assessments

Not explicitly mentioned but assessments may include common expenses (Article I.C and Article VIII)

Collections & liens

Assessments create a lien in favor of Association; lien subordinate to first mortgage; foreclosure extinguishes prior assessment liens (Article VIII: 'create a lien in favor of)

Home business

Prohibited (implied by residential use only) (Article III.A)

Use restrictions

Yes: 'Each of the units shall be occupied only by a family, its servants, and guest, and may be used as a residence and for no other purpose.' (Article III.A)

Voting & meetings

Each unit owner selects one board member; amendments require unanimous consent of all unit owners (Article I.E and Article XI)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.