Point Clear

What Point Clear's governing documents say

Point Clear is a condominium community in Pinehurst, NC, established in 1973 under North Carolina's Unit Ownership Act. This declaration governs the seven residential buildings and their common areas, and it applies to unit owners, tenants, and occupants.

• What you own & maintain: You own your unit's interior (bounded by interior surfaces of perimeter walls, ceiling, floor, and stairways). The association maintains common areas like land, foundations, roofs, exterior walls, walkways, and utility installations.
• Assessments & taxes: Each unit is taxed separately. Unit owners pay an annual assessment to the Declarant (up to 1.5% of taxable value, adjustable with CPI) for community services, plus a pro-rata share of common expenses based on your undivided interest (each unit is 14.285%).
• Leasing & rentals: You may lease or rent your unit, subject to rules adopted by the Board of Administrators. No minimum lease term is stated in this document.
• Right of first refusal: If you want to sell, you must first offer the unit to the Board of Administrators at the same price and terms as the highest acceptable bona fide offer. The Board has 30 days to exercise this option and an additional 30 days to close. This right does not apply to foreclosure or transfers by a mortgagee.
• Mortgages & encumbrances: You may mortgage your unit without Board approval only if it's a first mortgage to a bank, life insurance company, or savings and loan. Other mortgages require Board approval. All mortgages must provide notice to the Board of default and at least 10 days' notice before foreclosure.
• Insurance & damage: The Board purchases master insurance on buildings and common areas, with premiums paid as a common expense. If a building is damaged, it must be repaired and restored unless it's untenable; insurance proceeds are distributed accordingly.
• Use restrictions: Buildings and units are for residential purposes only. No other specific use restrictions (e.g., pets, noise) are stated in this document.
• What this document doesn't cover: This is the declaration only; it doesn't include the full by-laws, rules and regulations, or the exhibits (plats, plans, unit designations) that may contain additional details. It also doesn't specify pet rules, age restrictions, or rental minimums.

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.