Summer Place (NC)

What Summer Place (NC)'s governing documents say

Summer Place is a 2-unit condominium community in North Topsail Beach, NC. This declaration and its attached bylaws govern the two unit owners, who each own a 50% undivided interest in the common areas. The document includes a right of first refusal on sales or leases for 20 years from recording (2004).

• What you own & maintain: You own your unit's interior and a 50% undivided interest in common areas (exterior walls, roof, walkways, parking, structural members). The association maintains common areas; you pay utilities metered to your unit.
• Right of first refusal: For 20 years from recording (2004), before selling or leasing to a third party, you must first offer the property to the association (10 days to accept), then to the other unit owner (10 days). Transfers to spouse, descendants, ancestors, or a trust for them are exempt.
• Leasing & rentals: Leases are subject to the right of first refusal (see above). No minimum lease term is stated in this document.
• Structural alterations: Structural changes that alter the exterior, including screens or facades, require written consent from all unit owners and the board. Consent is presumed if no response within 45 days of a detailed written request.
• Use restrictions: Units are for residential use only. No unit may unreasonably interfere with the peace, quiet, and quiet enjoyment of the other unit.
• Assessments & finances: The board assesses each unit equally for common expenses. Checks over $500 require both president and treasurer signatures. A unit more than 30 days delinquent loses board representation.
• Governance & voting: Each unit appoints one representative to the board; a third disinterested representative breaks ties. Board decisions require unanimous consent of the representatives. Bylaws can be amended only by unanimous board action.
• Insurance: The association carries master property and liability insurance on buildings and common areas, paid as a common expense. Unit owners may obtain their own personal property and liability coverage.

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.