Partnersplace

What Partnersplace's governing documents say

Partners Place is a condominium community in Durham, NC — you own your unit and share ownership of the common elements, which the association maintains and insures. This declaration is the rulebook for unit owners, and it also binds tenants, guests, and mortgagees. It was created in 2002 with 30 existing units, with the developer reserving the right to add up to 30 more.

• What you own & maintain: You own the interior surfaces of your unit's walls, floors, and ceilings. The association maintains all common elements and limited common elements (like HVAC parts serving only your unit), and you pay assessments for that.
• Leasing & rentals: Leases must be in writing, for at least 90 days, and must require the tenant to follow the declaration, bylaws, and rules. No hotel or transient use is allowed.
• Pets: No animals of any kind are allowed in units or on common elements.
• Occupancy limits: The maximum number of occupants in a unit is the number of bedrooms as originally designed, regardless of age.
• Assessments & fees: You pay regular assessments (quarterly or annually) and may pay special assessments approved by a two-thirds vote of all units. There's also a one-time initial assessment equal to two months' regular assessment due at first closing. Late payments accrue 12% annual interest, and unpaid assessments become a lien on your unit.
• Fines & enforcement: The association can fine you up to $150 per violation after notice and a hearing, and can charge for preparing resale certificates. It can also sue to enforce rules and recover attorney's fees.
• Insurance: The association must insure common elements for 100% of replacement value and carry liability insurance of at least $1,000,000 per occurrence. Unit owners are beneficiaries of the property insurance.
• What this document doesn't cover: This is the declaration only — it doesn't include the association's bylaws, rules and regulations, or current fee amounts. Those are separate documents you should review.

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.