47A-12. Unit owners to contribute to common expenses; distribution of common profits.
The unit owners are bound to contribute pro rata, in the percentages computed according to G.S. 47A-6 of this Article, toward the expenses of administration and of maintenance and repair of the general common areas and facilities and, in proper cases of the limited common areas and facilities, of the building and toward any other expense lawfully agreed upon. No unit owner may exempt himself from contributing toward such expense by waiver of the use or enjoyment of the common areas and facilities or by abandonment of the unit belonging to him.
Provided, however, that the common profits of the property, if any, shall be distributed among the unit owners according to the percentage of the undivided interest in the common areas and facilities. (1963, c. 685, s. 12; 1983, c. 624, s. 2.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 1 - Unit Ownership Act.
§ 47A-2 - Declaration creating unit ownership; recordation.
§ 47A-4 - Property subject to Article.
§ 47A-5 - Nature and incidents of unit ownership.
§ 47A-7 - Common areas and facilities not subject to partition or division.
§ 47A-8 - Use of common areas and facilities.
§ 47A-10 - Compliance with bylaws, regulations and covenants; damages; injunctions.
§ 47A-11 - Unit owners not to jeopardize safety of property or impair easements.
§ 47A-12 - Unit owners to contribute to common expenses; distribution of common profits.
§ 47A-13 - Declaration creating unit ownership; contents; recordation.
§ 47A-14.1 - Deeds conveying units.
§ 47A-16 - Termination of unit ownership; consent of lienholders; recordation of instruments.
§ 47A-17 - Termination of unit ownership; no bar to reestablishment.
§ 47A-18 - Bylaws; annexed to declaration; amendments.
§ 47A-20 - Records of receipts and expenditures; availability for examination; annual audit.
§ 47A-21 - Units taxed separately.
§ 47A-22 - Liens for unpaid common expenses; recordation; priorities; foreclosure.
§ 47A-23 - Liability of grantor and grantee of unit for unpaid common expenses.
§ 47A-24 - Insurance on property; right to insure units.
§ 47A-27 - Zoning regulations governing condominium projects.