Woodburn Road Condominium

What Woodburn Road Condominium's governing documents say

Woodburn Road Condominium is a small condominium community in Raleigh, NC, established in 1974 under the North Carolina Unit Ownership Act. It consists of a single four-unit building (Units 1–4) where you own your individual unit and share ownership of the common areas (land, structure, parking, etc.) as a tenant in common with the other three owners. The association manages the property, carries master insurance, and levies assessments to cover common expenses.

• What you own & maintain: You own your unit's interior space (from the undecorated surfaces inward) and a 25% undivided interest in the common areas, which include the land, structural elements, roof, exterior walls, parking areas, and utility systems. The association maintains the common areas and can enter your unit for necessary repairs, but you're responsible for your own interior and personal property.
• Assessments & finances: The association prepares an annual budget and assesses each owner 25% of the common expenses, payable in monthly installments. It can levy special assessments for extraordinary costs, capital improvements over $1,000 (with 75% owner approval), or to cover delinquencies. The association also maintains a reserve fund for contingencies and replacements.
• Leasing & rentals: The declaration doesn't set a minimum lease term, but it requires that units be used as private single-family dwellings, and any lease must comply with the declaration, bylaws, and rules. Unauthorized leases are voidable by the board.
• Pets: The document doesn't mention any pet restrictions, so pets are presumably allowed unless the association adopts rules later.
• Transfer & sale restrictions: If you sell your unit, you must first offer it to Cameron Park, Incorporated (the original developer) at the same price as any bona fide offer, and they have 30 days to match it. Mortgages require board approval unless they're first mortgages to a bank, life insurance company, or savings and loan. Gifts to family members are allowed without board consent.
• Insurance: The association carries master property insurance on the building and common areas, plus liability coverage, paid as a common expense. You can buy your own insurance for personal property and liability. If the building is damaged, insurance proceeds are used for repair or distributed to owners if not rebuilt.
• What this document doesn't cover: This is the declaration and bylaws, but it doesn't include the full rules and regulations that the board may adopt later. It also doesn't specify current fee amounts, pet policies, or other operational details—those would be in separate documents or board rules.

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.