Dear Mister Condo,
Developer ended up buying condos in foreclosure; he said he owns 40 units. How many votes does he have in the association meetings? Technically, he decides who is president and everything else for that matter.
Mister Condo replies:
R.P., in theory, the developer has the right to vote as defined in your condo documents. Typically, each unit carries one vote. However, there are some states and governance documents that limit the total vote of any one unit owner to 15%, regardless of how many units he or she owns. So, you will need to check in two places to answer your question. First, what do your documents say? If they are silent on the subject, then it would be assumed that there is one vote per unit, regardless of how many are owned. Second, look at your state’s laws regarding Condominiums and Common Interest Ownership communities. Again, if the laws are silent on the matter, then it would be assumed that there is one vote per unit, regardless of how many are owned. The right to vote is inherent with the purchase of a unit within an association. After all, your ownership makes you a member of the corporation. In a corporation, ownership gives you the right to vote. That is why corporations are often ruled by their majority shareholders. The one with the most shares typically controls the votes. It is no different in community associations although some documents and states embellish those rights in favor of protecting smaller shareholders from majority shareholders who could, theoretically, control all of the items you discussed. Good luck!