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| Author |
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BroderickA
(Alabama)
Posts:1
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| 09/06/2006 8:57 AM |
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Hello all,
I am part of a transition committee for a planned community. We are in the process of making sure the bylaws and developer obligations are communicated and completed. While doing so, there a several lots that one of gour builders own available for home construction. My question is; How many votes does that builder has as the owner of several lots? Does he have one vote for each lot owned or just one vote period? Your answers will be greatly appreciated.
Thanks,
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JosephW
(Michigan)
Posts:787
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| 09/06/2006 9:25 AM |
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This will be buried somewhere in your documents. There will be a section that describes eligibility for voting, or voting procedures. Chances are it will say something like "each lot owner in good standing will have one vote", in which case the developer would be able to vote for each lot. However, that may be negated if somewhee in the documents it says that the developer is not required to pay assessments on unfinished lots, so those lots may not meet the "good standing" requirement.
Unfortunately, it takes reading the CC&R's (or Master Deed & Bylaws, depending on your state) with a fine tooth comb, because one section may further define, or even refute another section.
One thing that might help you, both now and in the future, is to create a document reference manual. What you do is make multiple copies of the documents and then cut them into sections (or scan the documents and use 'cut-n'paste'). Create a book that has sections for:
Developer
Elections
Voting
Budgets
Assessments
Rules
Fines
Architectural Control
Reserves
Membership
Board
Minutes
Notices
Delinquency
and so on
Then take each article of the documents and paste it under the sections it referes to. For example, if the article covered the developer's voting and assessment rights, paste it under Developer, Assessments and Voting. In this manner you have a quick reference of any number of subjects or combinations.
You'll also find the answer to your question.
Joe |
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Joseph West
Official HOATalk.com Sponsor
Community Associations Network, LLC
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BradP
(Kansas)
Posts:1742
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| 09/06/2006 9:41 AM |
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Broderick:
Joe is right, it is in your docs buried somewhere. Until we were complete ours had six votes per vacant lot. |
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RogerB
(Colorado)
Posts:3725
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| 09/06/2006 10:12 AM |
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| Broderick, usually the Declaration will define the Developer as a class "B" member with the rights to have several votes per lot. Meanwhile you as a class "A" member will have one vote per lot owned. The Developer will also usually write the Declaration to maintain architectural control of new construction and provide homeowners only the architectural control over future modifications. |
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Roger Borcherding
Official HOATalk.com Sponsor
DARCO Property Management (Colorado)
(303) 925-0150 
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GeraldT1
Posts:0
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| 09/06/2006 12:06 PM |
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BroderickA,
Curious what state you are in, how many units are in your development? I find it very interesting that your transition committee is formed while the developer still has unconstructed lots, and most likely a seat (or few) on the board. Care to share where you are at in the transition process, did your board hire a transition engineer, are you performing a capital reserve analysis and deficiency study, or is the undertaking spearheaded by the transition committee until the developer is off the board?
My developer had 1 vote for each lot, rights of veto relating to an increase in maintenance and some other matters while still on the board, plus 30 days on the board after the last lot was sold.
GeraldT1
NNJ |
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