Q: What is the amendment process for changing the share of interests and common elements % defined in the declaration?
We have two individuals who purchased a total of three Units that were not developed in our Association and they seek a reduction on their share of expenses % outlined. They have placed deed-restrictions on the property to prevent building. I know the common share of common elements % requires 100% approval in writing from Unit Owners AND first mortgagees (if any), but can the share of expenses %, based on the common elements % be amended if the Units won't be developed?
A: You are asking this question out of a vacuum without giving us the opportunity to read all the relevant documents. Take them to a local real estate attorney who is familiar with the local home owner's associations.
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