Magnolia Trace Townhomes

What Magnolia Trace Townhomes's governing documents say

Magnolia Trace Townhomes is a townhome community in Wilmington, NC, where you own your unit and a share of the common area, and the homeowners' association maintains the exterior of the homes and common areas. This document is the full declaration of covenants, conditions, and restrictions (CC&Rs) that apply to all owners and residents.

• What you own & maintain: You own the interior of your townhome, including glass surfaces, doors, windows, screens, frames, rear decks, roof skylights, landscaping inside a courtyard, and HVAC units. The association maintains the exterior (roofs, gutters, paint, exterior surfaces) and the common area, including stormwater retention ponds.
• Leasing & rentals: Leases must be for at least six months. You may delegate your common area rights to tenants. The association can adopt rules for 'For Rent' signs.
• Pets: Household pets (dogs and cats) are allowed but must live indoors and be leashed when outside. No pit bulls, Doberman pinschers, or rottweilers are permitted. The board may require a bark control collar for nuisance barking.
• Parking & vehicles: Boats, campers, trailers, motor homes, and similar vehicles are not allowed in parking areas or on streets without association consent.
• Signs & flags: Signs visible from outside require written permission, but the board may adopt a sign policy that could prohibit signs altogether. Political signs, flags, and religious/holiday displays are protected with reasonable time, place, and manner restrictions.
• Assessments & fees: Quarterly assessments are set by the board and can increase up to 10% per year without a vote; larger increases require majority approval. A working capital assessment equal to two months' assessment is due at closing. Special assessments for capital improvements require a two-thirds vote of members. Late payments incur 18% annual interest and a late fee.
• Architectural & exterior rules: Window coverings visible from outside must be white or neutral unless approved. Satellite dishes and antennas require board approval. Temporary structures (e.g., storage pods) are limited to 24 hours unless extended. Garbage containers must be stored out of sight.
• Party walls: Walls between units are party walls; repair costs are shared proportionally by the owners who use the wall. Disputes are resolved by arbitration.

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.