Liberty Homeowners Association Inc

What Liberty Homeowners Association Inc's governing documents say

This is the declaration of covenants, conditions, and restrictions for Liberty at Town Hall Commons, a townhome community in Morrisville, NC, governed by the North Carolina Planned Community Act. It applies to all lot owners, who automatically become members of the Liberty Homeowners Association, Inc. The document establishes the association's powers, maintenance responsibilities, and restrictions on property use.

• What you own & maintain: You own your townhome lot, including the living unit and party walls. The association maintains common elements (like storm water facilities) and building exteriors, but you're responsible for repairs caused by your own actions or omissions.
• Assessments & fees: The initial base assessment is a maximum of $145 per month, set by the board. There's also a one-time $250 working capital fee at closing. Special assessments require a two-thirds vote of Class A members present, and limited special assessments can be levied against individual lots for specific expenses.
• Leasing & rentals: You may rent your townhome to residential tenants for profit, but the declaration doesn't specify minimum lease terms or require board approval for rentals.
• Architectural review: Any exterior changes, including fences, additions, or alterations, require written approval from the executive board. Plans must be submitted and approved within 30 days, or approval is deemed given. Unapproved work can be restored at your expense.
• Use restrictions: Lots are for single-family residential use only. No commercial or business activity is allowed, though you can work from home if it doesn't create regular client traffic or display signs. Noxious activities, nuisances, and exterior sound devices (except security) are prohibited.
• Party walls: Walls shared between townhomes are party walls. Repair and maintenance costs are shared proportionally by the owners who use the wall. Disputes are settled by arbitration.
• Insurance: The association must carry casualty and liability insurance on common elements. You must maintain a multi-peril property insurance policy on your unit, covering at least 100% of its insurable value on a replacement cost basis.
• What this document doesn't cover: This excerpt doesn't include details on parking, pets, age restrictions, or specific rental terms. Those may be covered in the association's bylaws or rules and regulations, which are not included here.

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.