Coleman Place Townhouses

What Coleman Place Townhouses's governing documents say

Coleman Place Townhouses is a two-unit condominium in Wrightsville Beach, NC — you own your unit and an undivided one-half interest in the common elements. The association (run by both unit owners) maintains the common areas and enforces the rules. This document is the full Declaration of Condominium and By-Laws.

• What you own & maintain: You own your unit (2,600 sq ft, two stories) and a one-half undivided interest in the common elements. The party wall between units is a common element; exterior walls, floors, ceilings, roof, decks, porches, and patios are part of your unit. The association maintains the common elements.
• Use restrictions: Each unit may be occupied only by a family, its servants, and guests as a residence. No single rooms may be rented. No use that is a source of annoyance or increases insurance rates is allowed.
• Leasing & rentals: Leases are subject to a right of first refusal in favor of the other unit owner. The other owner has 10 days to match any offer; if exercised, closing must occur within 45 days. Inter-family transfers (to spouse, parents, lineal descendants) are exempt.
• Right of first refusal: Before selling or leasing, the unit must first be offered to the other unit owner at the same price/terms. The other owner has 10 days to accept; if not, the unit may be sold/leased at no less than that price.
• Architectural review: No exterior changes or new structures may be made without written approval of the Board. Exterior color changes require approval of both unit owners at a meeting with a quorum.
• Party walls: The wall between units is a party wall and a common element. Repair costs are shared proportionally by the owners who use the wall. Negligent damage is the responsibility of the causing owner. Disputes are settled by arbitration.
• Assessments & liens: Assessments are levied per unit by the Board. Unpaid assessments create a lien on the unit, subordinate to first mortgages recorded before the lien.
• Governance: The Board of Managers consists of two members (one per unit), each serving three-year terms. All Board members must be present for a quorum. Deadlocks are resolved by arbitration. Amendments require the written consent of both unit 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.