Romspen Fund

Key facts from Romspen Fund's documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article I)

Legal name

45 Asheland Avenue Condominium Association, Inc. (Article II.2)

Developer / declarant

Asheland Avenue Group, LLC, a Delaware Limited Liability Company (Page 1, first paragraph)

Governing law

North Carolina Condominium Act, Chapter 47C of the North Carolina General Statutes (Page 1, WITNESSETH)

Reserves & fees

Greater of $20 per month or 10% of unpaid installment, or actual collection costs (including attorney’s fees), not exceeding highest amount under Act (Article VIII.1(b))

Leasing & rentals

Prohibited for all units except vacation rentals on 3rd, 4th, and 5th floors (Units 300-308, 400-408, 500-508) allowed for one day or longer, in compliance with Chapter 42A of NC General Statutes (Article VI.3(b), VI.8)

Home business

Commercial Units for non-residential uses (business, office, retail, commercial) (Article VI.3(a))

Voting & meetings

40% of Members present in person or by proxy (Article II.41)

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