Timeline for Possible to remove condo townhouse fees?
Current License: CC BY-SA 3.0
6 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Mar 13, 2015 at 18:17 | comment | added | Raze | I've never seen a clause that provides for individual property owners to leave the Association, only for the dissolution of the entire Association. | |
| Mar 13, 2015 at 17:59 | comment | added | Charles E. Grant | The rationale for that provision is to provide for an orderly shut down of the association if the underlying structure is destroyed or sold. For example, if the building burns down, the owners face the question of whether to rebuild or not. It may make more sense just to sell the land, split the proceeds, and dissolve the association. I'm not a lawyer, so I can't definitively say that this clause could never be used to simply let every owner go their own way, but I've never heard of it being used that way. | |
| Mar 13, 2015 at 17:21 | comment | added | A.S | I can see how a dissolution might be legally feasible, but then what? You've got a condo complex which altogether doesn't belong to anybody. Maintenance doesn't get done. Nobody cares about replacing the roof or repainting or landscaping or policing to make sure strangers don't occupy the parking lot. The complex gradually falls into disrepair, everyone loses. Maintenance of shared property is an 'externality' of individual use, which without regulation becomes impossible to control..shared structure is necessary for it to work. Better, join the HOA board and be proactive in decision-making! | |
| Mar 13, 2015 at 13:17 | comment | added | Raze | Basically. A high enough percent of the members, homeowners for instance, would have to vote for dissolution. At that point, in most cases the dissolution isn't immediate and there is some period of time, like a few years, before the dissolution actually occurs. During that time period there are generally more votes required to confirm the dissolution. If any of those fail, typically the whole process starts over. Again, each Association has its own bylaws. | |
| Mar 13, 2015 at 12:34 | comment | added | GoldenBunny | Interesting. So for an association to dissolve you'd need to get the association itself to vote to close? | |
| Mar 12, 2015 at 13:52 | history | answered | Raze | CC BY-SA 3.0 |