Atlantic Towers

What Atlantic Towers's governing documents say

Atlantic Towers is a timeshare condominium project in Carolina Beach, NC, where you buy a 1/10th undivided interest in a unit, giving you the right to use that unit for five weeks each year (one week in each of five seasons). The property is part of the larger Atlantic Towers Condominium, and a master association handles common areas. This document is the governing declaration for the timeshare regime, binding all co-owners.

• What you own & use: You own a 1/10th fee simple undivided interest in a specific unit, plus a 1/10th share of the unit's interest in the condominium's common areas. You have the exclusive right to occupy the unit and its furnishings for five weeks per year (one week from each of five seasons), assigned by a rotating number system.
• Use periods & rotation: Each co-owner gets five season weeks per year. The initial assignment is by number (1-10), and numbers rotate annually so each owner moves to the next number each year. The board may revise assignment procedures if needed, but the five-week total cannot be reduced.
• Maintenance weeks: At least two weeks per year per unit are designated as maintenance weeks, during which no owner may use the unit. The association handles annual maintenance, repairs, and cleaning.
• Pets: No animals, livestock, birds, fish, poultry, dogs, cats, or household pets of any kind are allowed in or on the property.
• Leasing & rentals: An owner may rent their season weeks or use period, but must use a written lease requiring the renter to comply with all governing documents. The owner must inform the management firm or association of any lease. Rentals are not allowed if the owner is delinquent on assessments.
• Alterations & decorations: No alterations, painting, repainting, tiling, wallpapering, refinishing, redecorating, or landscaping may be done without prior written board approval. The association has the right to perform all such work.
• Transfer restrictions: An owner wishing to sell must first offer the interest to the declarant (or its assignee) at the same price and terms offered to any buyer. The declarant has 15 days to accept; if not accepted, the owner may sell within 90 days on terms no more favorable. Transfers must be for residential use only.
• What this document doesn't cover: This document does not specify assessment amounts, pet fees, or detailed rules about parking, noise, or guests beyond occupancy limits set by the board. It also does not include the full rules of the master association (Atlantic Towers Assn., Inc.) or the initial rules and regulations referenced as exhibits.

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.