Foxfirecoa

What Foxfirecoa's governing documents say

This is a declaration for a timeshare-style interval ownership condominium at Foxfire Interval Resort Condominiums in Moore County, NC. It governs the rights and obligations of people who buy a specific week (or weeks) of ownership in a unit, not a full-time residence. The rules bind unit week owners and the association, and cover how the property is managed, maintained, and used.

• What you own & maintain: You own a 'unit week' — a seven-day period in a specific unit, held as a tenant in common with other week owners. The association handles exterior and common area maintenance, repairs, and replacements of furnishings, and you pay a prorated share of those costs based on the number of weeks you own.
• Assessments & fees: You must pay a maintenance fee covering upkeep, insurance, utilities, taxes, and country club membership fees. Fees are prorated by the number of weeks you own out of 51. Unpaid assessments accrue 10% annual interest and a $25 late charge after 10 days, and the association can place a lien on your week.
• Leasing & rentals: Leasing or renting your unit week is not prohibited, but the declaration doesn't specify any minimum lease terms or other rental restrictions.
• Use & occupancy: You may use your unit week as a private dwelling for yourself, family, guests, and tenants. You must vacate by the end of your week; if you stay past your period, you're a 'holdover owner' and must pay $50 per day plus costs for alternate accommodations for displaced owners.
• Alterations & appearance: You cannot make exterior changes, hang items on exterior walls, install ground cover, or place furniture outside without written approval. The association controls the interior decor and color schemes, and you need consent for any interior alterations.
• Insurance & casualty: The association carries casualty insurance on the unit and unit property. If damage occurs, the board acts as trustee for insurance proceeds and decides whether to repair or, if two-thirds or more of the unit is destroyed, distribute proceeds to owners.
• Voting & governance: Each unit week owner gets 1/51st of a vote per week owned. Owners authorize the management firm to vote on their behalf at condominium association meetings, so you don't participate directly in those meetings.
• Termination & partition: The interval ownership can be terminated by all owners and lienholders, or after major damage. Owners can vote to continue the intervals in ten-year periods; if they don't, the unit is partitioned among week owners.

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.