I live in a 3 Phase condo community. Phases 2&3 are owned by one company who also controls 4 out of 5 Board seats. Unfortunately they've allowed our community to decline, have not retained our property values and have taken our reserve funds from $70,000+ to a more than $15,000 negative balance. They've also neglected to pay our community bills for more than 3 months now. Phase 1 is owned by individuals and we're looking to partition from Phases 2&3. We've elected a new Board for Phase 1 of our community of which I was voted President. The owner of those phases is in agreement with Partition and we're looking for a Partition Agreement which I've been unable to locate. Can you assist me with this.
Answer
You're looking at tens of thousands of dollars in legal fees to do it right.
No comments:
Post a Comment