Crystal Pines Homeowners Assoc

What Crystal Pines Homeowners Assoc's governing documents say

This is a restrictive covenant declaration for a single townhome unit in Crystal Pines, a Durham, NC community, tied to an affordable housing loan from the North Carolina Housing Finance Agency. It binds the property owner (and future owners) to income and occupancy restrictions for a 5-year affordability period, not the HOA's general rules. It is a partial document—it supplements the community's main HOA covenants and does not cover typical HOA rules like pets or parking.

• Affordability & income restrictions: The property must remain affordable for 5 years, and the owner must occupy it as their principal residence within 60 days. The owner cannot rent the unit or use it as a second home or investment property.
• Transfer & sale restrictions: Any transfer of title or possession requires prior written approval from NCHFA, and selling or refinancing within the affordability period does not end the restrictions. If the sale proceeds are insufficient to pay the loan, NCHFA may accept net proceeds, but only if the price reflects fair market value.
• What this document doesn't cover: This document does not contain the community's general HOA rules (e.g., assessments, pets, parking, architectural review). Those are in the separately recorded Crystal Pines HOA covenants referenced in the declaration.

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.