11-29-2025, 06:40 PM
(10-10-2025, 07:46 AM)nms Wrote: … Condominium residential buildings will likely still be standing and incapable of being replaced since there are dozens if not hundreds of owners who hold a share in the building.…
Actually if 80% of owners approve, the entire building can be sold. So in a situation where selling is, broadly speaking, beneficial for the owners, it can probably actually happen — a few holdouts or unreachable owners cannot stop it. It has to be done properly however: if a sale occurs, those who vote against it can file a court application saying the price was too low, and if this view is upheld, those who voted for the sale must compensate those who voted against.