Drayton Square

What Drayton Square's governing documents say

Drayton Square is a condominium community in Wilmington, NC — you own your individual unit and share ownership of the common elements, which the association maintains and insures. The declaration governs all unit owners, tenants, and occupants.

• What you own & maintain: You own the interior of your unit (walls, floors, fixtures, windows, doors) and must maintain them at your expense. The association maintains the common elements (land, foundations, roofs, exterior walls, driveways, walkways) and limited common areas (front yards and walks).
• Use restrictions: Units may only be used as private single-family residences. No signs without board approval. No noxious or offensive activities. No animals except as permitted by association rules.
• Leasing & rentals: The association has a right of first refusal on any sale or lease of a unit. The owner must first offer the unit to the association at the same price and terms as a bona fide offer. Inter-family transfers (to spouse, parents, descendants, or qualifying corporations) are exempt.
• Assessments & fees: Each unit owner pays a monthly assessment equal to their percentage interest in common expenses (ranging from 7.3% to 8.7% per unit). Assessments are due on the first of the month; late payments bear interest at the maximum legal rate.
• Insurance: The association carries master property insurance on the buildings (excluding personal property inside units) at 100% replacement cost, plus liability insurance. Individual owners may insure their own personal property and obtain additional coverage, but cannot reduce the association's coverage.
• Damage & destruction: If the building is more than two-thirds destroyed and two-thirds of unit owners vote not to rebuild, the property is owned as tenants in common by unit owners in their common-interest percentages, and any unit owner can force a partition sale.
• Amendment & expansion: The declaration can be amended by a two-thirds vote of all unit owners. The declarants reserved the right to expand the property by adding adjacent land (up to 43 additional units) without unit owner consent, subject to building height and exterior material limits.
• What this document doesn't cover: This excerpt is the declaration of condominium only. It does not include the full bylaws, rules and regulations, or any later amendments. Specific pet rules, parking details, and architectural guidelines are referenced but not fully stated here.

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.