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3 Member Association
4 posts by 3 users
Jim E.Twin Cities, MN 
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Have a client who is looking at a townhouse and it is one of three units. One is sold and when 2nd gets sold, owner will turn over to association to members. Anyone have experience with just a few members that make up an association? |
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Benjamin S.
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Hey Jim, How many total members are there? Thanks. Benjamin Subercaseaux
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Jim E.Twin Cities, MN
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There are three units so there would be a potential of three voting members. |
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Ofgift G.
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That, to me, sounds like a bad accident waiting to happen. There's many problems in any association, and when there are so few members, those problems can be terribly magnified. Everybody has different ideas as to saving money for future repairs, spending money ON repairs, when are they to be done, which repairs are to be paid by the "association" and which are the responsibility of ALL THREE owners? I strongly urge you to council your client to run as fast as he can from this nightmare. |
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Posted: 06/27/2008 at 02:24PM