Spinnaker Pointe

What Spinnaker Pointe's governing documents say

Spinnaker Pointe is a condominium community in Wilmington, NC — you own your individual unit and share ownership of common elements, with the association managing maintenance, insurance, and rules. This declaration governs Phase I (54 units) and allows the developer to add up to 318 more units in future phases.

• What you own & maintain: You own the interior of your unit (excluding unfinished surfaces of perimeter walls, floors, ceilings, and load-bearing walls). You must maintain interior items like HVAC, appliances, fixtures, window glass, and balcony surfaces. The association maintains common elements (structures, grounds, boardwalk, etc.) and carries master insurance.
• Leasing & rentals: No time-sharing is allowed. Leases must be for at least six months. The declaration does not otherwise restrict rentals, but the association may adopt rules.
• Pets: The declaration does not mention pet limits or restrictions. The association may adopt rules governing pets.
• Architectural review: No structural modifications or exterior changes (including painting, awnings, antennas, balcony enclosures) without written association consent. Interior non-load-bearing partitions may be removed with approval. Window dressings must be neutral and match original style. No clotheslines, hammocks, or drying items on balconies.
• Use restrictions: Units are for single-family residential use only. No immoral, offensive, or nuisance activities. All laws and zoning must be observed.
• Assessments & fees: Assessments are levied per unit based on percentage interests in common elements (set by statutory values per bedroom type). A working capital fund equal to two months' assessments is collected at closing. The association maintains a reserve fund for replacement.
• Insurance: The association carries casualty insurance on all units and common elements (replacement value), plus liability insurance (at least $1M per occurrence). Unit owners may get separate personal property/liability insurance. Insurance proceeds are held by a trustee for repair or distribution.
• What this document doesn't cover: This declaration does not specify age restrictions, parking rules, rental caps, or pet limits. Those may be in the association's bylaws or rules and regulations.

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.