Chesapeake Pointe Condominium
You own a unit plus a share of the common elements; the association maintains the building and grounds.
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What Chesapeake Pointe Condominium's governing documents say
This is a declaration of restrictive covenants for a single condominium unit (Unit 205) at Chesapeake Pointe Condominiums in Cary, NC, tied to a $30,000 loan from the North Carolina Housing Finance Agency (NCHFA). It binds the current owner and all future owners of that unit to affordability and occupancy restrictions for 10 years, and it is not a full community rulebook.
- Affordability period: The restrictions last 10 years from April 29, 2019, and may extend beyond the loan term. The period does not end if the property is sold or refinanced.
- Owner occupancy required: The owner must occupy the unit as their principal residence within 60 days of the declaration and continue living there for the entire affordability period.
- Leasing & rentals: Renting the unit or any part of it is prohibited, and using it as an investment, recreational, or second home is not allowed.
- Business use: The unit cannot be used primarily for a trade or business, and the owner cannot deduct any portion of the home as a business expense on tax returns.
- Transfer restrictions: Any transfer of title or possession (except as permitted by federal law) requires prior written approval from NCHFA, and a sale or refinancing does not terminate the affordability period.
- Recapture on sale: If the owner sells the unit and the net proceeds are not enough to pay the loan in full, NCHFA may accept the net proceeds as full satisfaction, but only if the sale price reflects fair market value; otherwise, the loan must be paid in full.
- What this document doesn't cover: This document only covers affordability and occupancy restrictions for Unit 205. It does not include general condominium rules, pet policies, parking, architectural review, or other community regulations.
Key facts from Chesapeake Pointe Condominium's documents
- Community type
- Condominium (WHEREAS describing Property as Unit 205,)
- Governing law
- North Carolina (Section 10)
- Use restrictions
- Residence shall remain a one-family Residence (Rider #1, paragraph 2)
- Amendments
- Declaration shall not be amended or terminated except by written instrument executed by Lender and Owner, recorded (Section 5)
Related associations
Nearby (within 500 m): Springbrooke Homeowners Association Inc · Springbrooke Home Owners Association Inc · Pointe View Towns Owners Association Inc · Chesapeake Landing · Silverton Homeowners Association Inc · Bailey Court Homeowners Association Inc · Wedgewood Homeowners Association Inc · Baileys Creek Homeowners Association Inc · Windbrooke Townhomes Association Inc · Chesapeake Condominiums · Cheasapeake Condominiums · Cheseapeake Condominiums
About this HOA
Chesapeake Pointe Condominium is a homeowners association in Cary, NC.
HOAproxy has 1 document on file for Chesapeake Pointe Condominium: 1 CC&R. Last updated 2026-06-10.
Governing documents
- DOCC110751538 (5 pages) — PDF