Fortune Place

What Fortune Place's governing documents say

Fortune Place is a planned community in Wilmington, NC, governed by a homeowners' association (HOA). This document is the full declaration of covenants, conditions, and restrictions (CC&Rs) that applies to all lot owners. It establishes the HOA, sets rules for property use, and outlines assessments and architectural controls.

• What you own & maintain: You own your lot and the home on it. The HOA maintains common elements like stormwater ponds, open space, and amenities. You must maintain your lot (lawn, trees, structures) and keep it free of weeds and debris.
• Architectural review: All exterior changes—including new construction, additions, painting, fences, and sheds—require written approval from the Architectural Control Committee (or the developer during the Declarant Control Period). The committee can deny based on aesthetics alone.
• Minimum home size: Each dwelling must have at least 1,400 square feet of enclosed, heated area (excluding garages, decks, porches). The committee may allow a smaller size if it won't hurt property values.
• Pets: Domestic dogs, cats, and other household pets are allowed but not for commercial purposes. They must be leashed or controlled and not become a nuisance.
• Parking & vehicles: Each lot must provide off-street parking for at least two cars. Boats, campers, trailers, inoperable vehicles, and construction equipment are not allowed on lots or streets without HOA permission. Vehicle repairs must be done in garages, not visible from the street.
• Leasing & rentals: The document does not restrict leasing. However, a 'Purchaser' is defined as someone acquiring an interest other than a leasehold under 20 years, implying longer leases are treated as ownership transfers for voting purposes.
• Flags & signs: An American or North Carolina flag (max 4'x6') may be flown on a pole attached to the home (max 5'6" pole). Other flags, statuary, and signs (except political signs) require approval. Developer may maintain sales signs.
• Assessments & fees: All lot owners pay annual assessments, and special assessments may be levied with a 2/3 vote. A $100 working capital fee is due from the first non-developer owner. Assessments are a lien on the lot if unpaid.

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.