Question:
Our 2 unit townhome is part of an HOA with a 5 unit condo. We are buying the second unit in our townhouse to own the whole building. Since we don’t need an HOA to break ties on maintenance etc what would be the process to leave the HOA? Our entire board of which I’m the president agree this is best since we have nothing in common with the 5 unit condo building.
– Kevin
Answer:
It is best to review the Florida Condominium Act Section 718.117(3), which deals with optional termination of all or a portion of the condominium property. It requires a vote of approval by 80 percent of the total voting interests of the condominium. Subsection (c) specifically deals with bulk owners, wherein a single entity (or related entities) own at least 80 percent of the total voting interests. I recommend seeking further assistance from an attorney.
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