1506 Pinfish Townhomes

What 1506 Pinfish Townhomes's governing documents say

1506 Pinfish Townhomes is a two-unit townhome community in Wilmington, NC, governed by a declaration that binds both unit owners. Each owner owns their unit and an undivided one-half interest in the common elements, and the association is composed of both owners. The rules cover use restrictions, maintenance responsibilities, assessments, and architectural control, with many decisions requiring unanimous consent.

• What you own & maintain: You own your unit and a one-half undivided interest in the common elements. You are responsible for maintaining your unit's interior and exterior, your driveway, and your limited common areas (e.g., deck). Roof replacement, common landing, and party wall costs are split equally unless one owner causes damage.
• Leasing & rentals: Units may be rented for residential purposes, but rentals of less than the whole unit are strictly prohibited. No timeshare or fractional ownership is allowed.
• Pets: No animals, livestock, or poultry may be raised or kept except domestic household pets as allowed by rules adopted unanimously. Pets must be leashed outside and waste immediately removed; excessive noise is prohibited.
• Parking & vehicles: No campers, trailers, boats, or similar vehicles may be parked or stored. Only standard pickup trucks (3-ton or smaller) are allowed. No junk or inoperable vehicles. Parking rules may be adopted by the association.
• Architectural review & exterior changes: No exterior alterations (including painting, fences, satellite dishes, signs) or changes to common elements may be made without the unanimous written consent of both owners. The exterior color of a unit cannot be changed unless the entire building's color scheme is changed, also requiring unanimous approval.
• Assessments & fees: There are no regular assessments; common expenses are split equally as special assessments. Late fees (4% of amount due) and interest (10% per annum) apply to delinquent assessments. The association has a lien and may foreclose for unpaid assessments.
• Dispute resolution: If the two owners cannot agree on any matter requiring unanimous consent, the dispute must be submitted to binding arbitration under the American Arbitration Association 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.