Several properties within PCTH are owned by multiple owners in a type of time share regime call "fractional ownership"; however, each fractional owner has a deeded interest in a particular property and not a common interest in a group of properties, as with most time share arrangements. PCTH fractional ownerships are divided into two groups - quarter-share owners and eighth-share owners. Each fractional owner is assessed a monthly maintenance fee to cover the costs of operating and maintaining their home.
There are separate corporations in place for both the quarter-share and eighth-share properties, that are responsible for collecting the fees and making expenditures on behalf of the fractional owners. Fractional share properties have their own elected Board of Directors, Financial Management and Property Management - each under separate management agreements - with their Board independent of the PCTH Board of Directors.
BOARD OF DIRECTORS
Governing the 6 Townhomes with Fractional Ownership
COUNCIL I - PRESIDENT
Diana and her husband, Bill, own three-quarters of the single quarter-share townhome.
COUNCIL I - VICE PRESIDENT
Virginia owns one-quarter of the single quarter-share townhome.
COUNCIL II - PRESIDENT
IT Professional with 3 engineering degrees, now retired from Verizon. Ray and his wife, Karen, are fractional owners.
COUNCIL II - VICE PRESIDENT
IT administrator with 30+ years in the natural gas pipeline transportation business. Paula and Mark have been fractional owners for over 20 years and married for 28 years.
COUNCIL II - SECRETARY
Saundra is a fractional owner.
The Architectural Control Committee (ACC) is charged with reviewing all owner requests for exterior modifications, enhancements or improvements - as outlined in the Deed Restrictions - to ensure that the common interests of the complex are preserved and protected.
Owners should submit exterior change requests by downloading and completing the ACC Application and emailing it to Liz Cook, Property Manager. Liz will forward all requests to the ACC for review and approval - once reviewed, approvals and rejections will be communicated to the homeowner via Liz Cook.
Liz Cook, Property Manager, will maintain an Architectural Control Log on all approvals and denials and will provide a copy of the ACL to the Pirates Cove Townhome Association Board of Directors.
- Articles of Incorporation
- Declaration of Co-Ownership (DCO)
- 1st Supplimental Amendment of DCO
- 2nd Supplimental Amendment of DCO
- 3rd Supplimental Amendment of DCO
- 4th Supplimental Amendment of DCO
- 5th Supplimental Amendment of DCO
- 6th Supplimental Amendment of DCO
- 7th Supplimental Amendment of DCO
- 8th Supplimental Amendment of DCO
- Rules and Regulations