How do we Document the terms of a developer transition?

Started by ChrisV • 1 replies • 1198 views

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ChrisV (Georgia)
Posts: 5

Posted:

Our developer is handing over the control of the POA. Is there an example document which we can use to document any terms agreed upon as part of this transition?

Like, developer remains obligated to complete roads, maintain his vacant lots, does not have to pay dues etc.?

Thanks

GlenL (Ohio)
Posts: 5,491

Posted:

Chris, I again caution the homeowners to hire an attorney to protect your rights. There is an old saying: If you can't dazzle them with brilliance; baffle them with bulls**t. If the Declarants attorney is skilled enough, he can make the owners think they are getting everything they want while putting the screws to them with legal double-talk. You can find some articles on transition here: http://www.communityassociations.net/development_transition.html

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