What To Know Before Shopping For A Condo
The affiliation has the powerhttp://www.house-o-rock.com until prohibited by the declarationhttp://www.house-o-rock.com articles of incorporationhttp://www.house-o-rock.com or bylaws of the associationhttp://www.house-o-rock.com to purchase items in the condominium and to amass and maintainhttp://www.house-o-rock.com leasehttp://www.house-o-rock.com mortgagehttp://www.house-o-rock.com and convey them. There shall be no limitation on the association’s right to purchase a unit at a foreclosures sale ensuing from the association’s foreclosure of its lien for unpaid assessmentshttp://www.house-o-rock.com or to take title by deed in lieu of foreclosures. Howeverhttp://www.house-o-rock.com except for a timeshare condominiumhttp://www.house-o-rock.com a board memberhttp://www.house-o-rock.com managerhttp://www.house-o-rock.com or administration firm may not buy a unit at a foreclosures sale resulting from the association’s foreclosure of its lien for unpaid assessments or take title by deed in lieu of foreclosures. A vote to forego retrofitting will not be obtained by common proxy or limited proxyhttp://www.house-o-rock.com but shall be obtained by a vote personally solid at a duly called membership assemblyhttp://www.house-o-rock.com or by execution of a written consent by the memberhttp://www.house-o-rock.com and shall be effective upon the recording of a certificates testifying to such vote in the public records of the county the place the condominium is positioned. The affiliation shall provide each unit owner written notice of the vote to forego retrofitting of the required handrails …