01-21-2016, 11:40 PM
(01-21-2016, 10:59 PM)tomh009 Wrote: Much easier than trying to build up a contiguous property by buying up individual houses! You don't care which units you buy, you just need 50% + 1 of them.
Depends what you want to do. Amending the declaration takes 80% for most matters and 90% for a few. Buying out the condo requires owners of 80% of the units to agree in writing. Those who did not agree can challenge the valuation and if they win those who agreed are on the hook for the difference. Having said that I wouldn’t want to be in a condo where half the units were owned by somebody as they would have complete control over the board.