Condo Smarts: Consult an experienced lawyer when pondering a strata sale

by Editor | April 20, 2017 7:24 pm

Dear Tony: Our strata is considering the option of selling. We have been approached by a developer who has offered us all 20 per cent above our current assessed values. ¬†Because our strata is only 32 units, it has been suggested that we each negotiate directly with the developer, but what happens if only 10 owners sell? How does an 80-per-cent vote apply if one owner controls more than 20 per cent of the votes and tries to block the sale unless we agree to the conditions they set out in the sale? ¬† ¬†Read the article………..

Source URL: http://communityassociations.net/consult-experienced-pondering/