Barrett Square I Condominium

Key facts from Barrett Square I Condominium's documents

Reflects the 1984 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title and Article I)

Legal name

Barrett Square Office Condominiums Association, Inc. (Article II.2 and Article XII.A)

Developer / declarant

Central Carolina Realty, Inc. (Preamble)

Governing law

North Carolina Unit Ownership Act, Chapter 47A, North Carolina General Statutes (Preamble and Article II)

Assessments & dues

Common expenses assessed against each unit owner in ratios specified in Exhibit D; Board adopts annual budget and proposed assessments; manager may recommend budget. (Articles XIII and XV; By-Laws Section 6.)

Special assessments

Board may levy additional assessments if budget insufficient or in emergencies. (By-Laws Section 6.B.2)

Collections & liens

Unpaid assessments over 30 days constitute a lien on the unit when filed with Clerk of Superior Court of Wake County; lien secures attorney's fees; foreclosure may require reasonable rental and receiver may be appointed. (Article XV)

Reserves & fees

Assessments may include a sinking fund for capital improvements; reserve funds held by Board for designated purposes only. (Article XV and Article XII.C.5)

Leasing & rentals

Unit owner may delegate rights of possession, use, and enjoyment to tenants. (Articles VI and XIX.A)

Parking & vehicles

Parking spaces are common area; 3 3/4 spaces designated per unit generally available to owners, tenants, guests, invitees; no specific spaces assigned; Association may regulate parking. (Article X)

Fences

No specific fence rules found. (Not addressed)

Architectural approval

No structural addition to common elements without prior written consent of Association; no alteration to common elements or exterior portions without consent. (Article XIII.B.1(b)-(c))

Home business

Business/office use is the primary permitted use. (Articles VI and XIX.A)

Signs & flags

No signs (including for rent/sale) without written permission of Board and compliance with Raleigh City Code, except as required by legal proceedings. (Article XIX.D)

Maintenance

Not explicitly stated; exterior surfaces are Association responsibility. (Article XIII.B.1(a))

Insurance

All buildings, improvements, and personal property in common elements insured at maximum insurable replacement value (excluding foundation/excavation) or 90% coinsurance; coverage includes fire, extended coverage, and other customary risks. (Article XVI.B)

Use restrictions

No; buildings and units shall be used primarily for business or office purposes. (Articles VI and XIX.A)

Voting & meetings

One vote per unit ownership; total 100 votes; each owner entitled to votes equal to percentage of ownership in common areas (Exhibit D) (Article XII.C.3)

Amendments

Declaration may be amended by vote of at least 66 2/3% of undivided interests of all unit owners; must be recorded. By-Laws may be amended by majority of Board and owners of at least 2/3 of aggregate undivided interest; must be recorded. (Articles XXI and By-Laws Section 8)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.